tate-owned NMDC has reduced iron ore prices by ₹300 per tonne.
With effect from August 15, lump ore price has been fixed at ₹4,650, while that of fines at ₹3,910, the company said in a stock exchange filing on Wednesday.
These are per tonne FOR (freight on rail/road) prices inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee, transit fee, GST, environmental cess and other taxes. In the previous revision, effective July 18, the mining major had increased the prices by ₹1,050 per tonne for lump ore to ₹4,950 and by ₹650 for the same quantity of fines to ₹4,210. It was the first increase in current fiscal by the India’s largest iron ore producer.
Iron ore is a key raw material for steel and change in its price is indicative of the demand for the final product. NMDC shares closed 1.14% lower at ₹117.20 each on the BSE.
