State-owned mining major NMDC has increased iron prices by ₹400 per tonne with effect from January 24.
This is the second upward revision this month by the company, taking lump ore price to ₹6,000 a tonne and that of a similar quantity of fine ore to ₹5,310.
India’s largest producer of iron ore, NMDC had in the previous revision on January 2 raised the per tonne lump ore price by ₹200 per tonne to ₹5,600 and by ₹250 to ₹4,910 for the same quantity of fines. Iron ore is a key raw material for steel and movement in the prices is a reflection of the demand for the final product.
These are FOR prices and inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee, transit fee, GST, environment cess, infrastructure cess and other taxes, NMDC said announcing the revision on Wednesday. NMDC shares closed 4.59% higher at ₹211.80 apiece on the BSE.
Published - January 24, 2024 08:46 pm IST
