India’s largest iron ore producer, National Mineral Development Corporation (NMDC), has lowered prices for both iron ore lump and fines, according to a stock exchange filing.
Under the revised pricing, 65.5pct Fe lump ore (10-40 mm) is priced at INR 4,600 (USD 50.9) per ton, down INR 1,000 (USD 11) per ton, while 64pct Fe fines (10 mm) have been reduced by INR 850 (USD 9.4) per ton to INR 3,900 (USD 43.2) per ton.
The prices are quoted on an FOR (free on rail/road) basis and exclude royalty, District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET) levies, cess, forest permit fees, transit charges, GST, environmental charges and other applicable taxes. In contrast, NMDC’s previous prices had included royalty, DMF and NMET components.
With operations spanning three fully mechanized mines, two in Chhattisgarh and one in Karnataka, NMDC collectively produces approximately 35 mln tons of iron ore, cementing its status as a key player in India’s iron ore sector.
1 USD / 90.2 INR
