India’s National Mineral Development Corporation (NMDC) has raised domestic iron ore prices effective June 3, increasing lump ore prices by INR 200 (USD 2) per ton and fines prices by INR 150 (USD 1.56) per ton, according to a stock exchange filing.
Following the revision, 65.5pct Fe lump ore (10-40 mm) is priced at INR 5,700 (USD 59.5) per ton, while 64pct Fe fines (below 10 mm) are offered at INR 4,850 (USD 50.6) per ton.
The prices are quoted on a FOR (Free on Rail) basis and exclude royalty, DMF, NMET, cess, forest permit fee, transit fee, GST and other applicable taxes.
NMDC is a major iron ore producer in India, operating the Bailadila mines, known for high-grade ore with up to 65.5pct Fe content. In Karnataka, the company runs the Donimalai and Kumaraswamy mines in the Bellary-Hospet region. The miner aims to expand its iron ore capacity to 100 mln tons per annum by FY31.
1 USD / 95.7 INR