NMDC Hikes Iron Ore Prices by Rs 200 Per Tonne

The country’s largest iron ore miner NMDC on Thursday increased rates of the mineral by Rs 200 to Rs 3,450 a tonne with immediate effect. Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.

In a BSE filing, NMDC said it has increased the price of lumps or high-grade iron ore by Rs 200 to Rs 3,450 per tonne, and that of iron ore fines or inferior grade ore also by Rs 200 to Rs 3,160 a tonne. The revised prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes, the company said.