India’s largest iron ore producer, National Mineral Development Corporation (NMDC), has increased prices for iron ore lump and fines by INR 450-500 per ton (USD 4.8-5.3), effective 5 April, according to a stock exchange filing.
Under the revised pricing, 65.5pct Fe lump ore (10-40 mm) is set at INR 5,300 (USD 57) per ton, while 64pct Fe fines (below 10 mm) are offered at INR 4,500 (USD 48.3) 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 / 93 INR