India’s National Mineral Development Corporation (NMDC) has reduced its domestic iron ore prices by INR 200 (USD 2.1) per ton, effective August 8.
Following the revision, NMDC’s 65.5pct Fe lump ore (10-40 mm) is priced at INR 5,250 (USD 55.1) per ton, while 64pct Fe fines (below 10 mm) are priced at INR 4,500 (USD 47.2) per ton.
The prices are quoted on a FOR (Free on Rail) basis and exclude royalty, District Mineral Foundation (DMF) contribution, National Mineral Exploration Trust (NMET) levy, cess, forest permit fee, transit fee, GST and other applicable taxes.
NMDC is India’s largest iron ore producer, operating the high-grade Bailadila mines in Chhattisgarh and the Donimalai and Kumaraswamy mines in Karnataka. The company aims to increase its iron ore production capacity to 100 mln tons per annum by FY2031.
1 USD / 95.3 INR