NMDC slashes iron ore prices for second month in a row
NMDC, India's largest iron ore producer, has reduced its prices for the second consecutive month, effective August 8. The price for Lump ore is now ₹5,250 per tonne, while Fines are priced at ₹4,500 per tonne.
Why it matters
As a major raw material supplier for the steel industry, NMDC's pricing adjustments serve as a key indicator for industrial production costs and economic health in the manufacturing sector.
India’s largest iron ore producer NMDC has reduced the price of the commodity by ₹200 per tonne, effective August 8.
It is the second consecutive month the State-owned mining major has slashed the price of key raw material for steel. The new, per tonne prices have been set at ₹5,250 for Lump ore (65.5%, 10-40mm) and ₹ 4,500 for Fines (64%,-10mm). These are freight on road/rail (FOR) prices that are exclusive of royalty, DMF levy, NMEDT, cess, forest permit fee, transit fee, GST, environmental cess and other taxes, the company said on Saturday in a filing on the fifth price revision in as many months this fiscal.
Following the latest change, Lump ore price is below the April 5 level of ₹5,300. At ₹4,500 per tonne, the price of Fines is on the same revised April level.
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