NMDC slashes lump ore prices by Rs 750 per tonne, fines by Rs 200 per tonne

State-owned mining company NMDC on Tuesday slashed prices of lump ore by Rs 750 a tonne and fines Rs 200 per tonne, with immediate effect.
In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to Rs 5,200 a tonne.

While the price of lump ore or low-grade ore has been fixed at Rs 4,560 per tonne.

"The... prices are excluding royalty, district mineral fund, cess, forest permit fee and other taxes," it said.

The revised prices are effective November 30, 2021, the company said.

On November 5, the company had fixed the rates of lump ore at Rs 5,950 per tonne, and that of fines at Rs 4,760 a tonne, with effect from November 4, 2021.

Iron ore is the key steel making raw material. A change in its prices has a direct impact on the rates of steel.

NMDC, under the ministry of steel, is the country's largest iron ore-producing company.