Industry

NMDC slashes iron ore prices by ₹500 a tonne

A file photo of a mining area in Ballari district.

A file photo of a mining area in Ballari district. | Photo Credit: SOMASHEKARA GRN

India’s largest iron ore producer NMDC has slashed the per-tonne prices of lump ore and fines by ₹500 each.

A reflection of steel demand, the latest change is in continuation of a downward revision in the ore prices by the mining major since April. Effective July 12, the new price of lump ore is ₹3,900 for a tonne, while that of fines is ₹2,810 for the same quantity.

Compared with the April price of ₹6,100 for lump ore and ₹5,160 for the fines, the new rates are ₹2,200 and ₹2,350 lower, respectively. The company had previously changed the price on June 5, to ₹4,400 for lump ore and ₹3,310 for fines.


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Printable version | Sep 9, 2022 2:39:40 pm | https://www.thehindu.com/business/Industry/nmdc-slashes-iron-ore-prices-by-500-a-tonne/article65632213.ece