NMDC raises iron ore prices by over 18% since August

25 Oct 2024 CW Team

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.

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