Business

NMDC increases iron ore prices

NMDC Ltd. has increased iron ore prices by ₹1,100 per tonne of lump and by ₹500 for the same quantity of fines. This is the second increase this month by the country’s largest iron ore producer. Following the latest change, effective April 14, a tonne of lump ore costs ₹6,950, while a similar quantity of fines will sell for ₹5,060. On April 3, NMDC had increased the price by ₹500 and ₹250 a tonne respectively taking lump ore to ₹5,850 and fines to ₹4,560. It had opted for a similar quantum of increase, with effect from March 21, resulting in lump ore price moving to ₹5,350 and that of fines to ₹4,310.

For a good part of March, the company, however, had maintained the February 7 price of ₹5,100 and ₹4,210 for the two varieties respectively amid concerns of high steel prices. The February 7 change was ₹600 lower compared to ₹5,700 for the lump and ₹4,810 for the fines that prevailed since January 6.

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Printable version | May 12, 2021 5:33:51 AM | https://www.thehindu.com/business/nmdc-increases-iron-ore-prices/article34330010.ece

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