NMDC raises iron ore prices again, a tonne to cost ₹400 more

January 24, 2024 08:46 pm | Updated 08:46 pm IST - Hyderabad

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.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.