India’s National Mineral Development Corporation (NMDC) has reduced its domestic iron ore prices effective July 10, lowering lump ore prices by INR 250 (USD 2.6) per ton and fines prices by INR 150 (USD 1.56) per ton.
Following the revision, NMDC’s 65.5pct Fe lump ore (10-40 mm) price stands at INR 5,450 (USD 56.9) per ton, while 64pct Fe fines (below 10 mm) are priced at INR 4,700 (USD 49.1) 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