NMDC raises iron ore prices by ₹400 per tonne
The Hindu
NMDC raises iron ore prices by ₹400/tonne, impacting lump ore at ₹5,750/tonne and fines at ₹5,010/tonne.
State-owned NMDC increased iron ore prices by ₹400 per tonne effective October 1.
Consequently, lump ore costs ₹5,750 per tonne and fines ₹5,010, a filing by the company on Tuesday showed. The upward revision comes on the back of a reduction in the prices twice consecutively.
During the previous change on August 7, NMDC had reduced the prices by ₹600 per tonne for the lump ore variety to ₹5,350; and fines by ₹500 to ₹4,610. These are FOR prices and inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee, transit fee, GST, environment cess and other taxes.
Output up a tad
In another filing, the mining major reported iron ore production for September increased a tad year on year to 3.04 million tonne (3 MT), while sales rose nearly 14% to 3.54 MT (3.11 MT). For the half year ended September, production of the key raw material for steel was 10.68% lower at 17.47 MT (19.56 MT). Sales for the same period was 3.64% less at 19.80 MT (20.55 MT).
NMDC shares closed less than 0.41% lower at ₹243.85 each on the BSE.
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