+
NMDC raises iron ore prices by over 18% since August
ECONOMY & POLICY

NMDC raises iron ore prices by over 18% since August

NMDC recently announced a price increase for its iron ore, effective from October 23, according to a notification. Since August, the price of lump ore has risen by 18.69 per cent, with a 10.43 per cent increase in October alone, bringing the current price to Rs 6,350 per tonne.

Fines have also experienced a price rise of 17.35 per cent since August and nearly 8 per cent in October, now standing at Rs 5,410 per tonne.

On October 1, NMDC had revised prices, setting lump ore at Rs 15,750 per tonne and fines at Rs 5,010 per tonne. The recent adjustment indicates an additional 10.4 per cent increase for lump ore and a 7.99 per cent rise for fines in just three weeks.

As of August 7, the price of lump ore was Rs 5,350 per tonne, while fines were priced at Rs 4,610 per tonne.

These price adjustments include royalties, District Mineral Foundation (DMF) charges, and National Mineral Exploration Trust (NMET) fees. However, they do not cover cess, forest permit fees, GST, and other taxes.

NMDC recently announced a price increase for its iron ore, effective from October 23, according to a notification. Since August, the price of lump ore has risen by 18.69 per cent, with a 10.43 per cent increase in October alone, bringing the current price to Rs 6,350 per tonne. Fines have also experienced a price rise of 17.35 per cent since August and nearly 8 per cent in October, now standing at Rs 5,410 per tonne. On October 1, NMDC had revised prices, setting lump ore at Rs 15,750 per tonne and fines at Rs 5,010 per tonne. The recent adjustment indicates an additional 10.4 per cent increase for lump ore and a 7.99 per cent rise for fines in just three weeks. As of August 7, the price of lump ore was Rs 5,350 per tonne, while fines were priced at Rs 4,610 per tonne. These price adjustments include royalties, District Mineral Foundation (DMF) charges, and National Mineral Exploration Trust (NMET) fees. However, they do not cover cess, forest permit fees, GST, and other taxes.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code