Team News Riveting
Mumbai, January 2
The state-owned iron ore miner, National Mineral Development Corporation (NMDC) Limited, has increased the prices of steel making raw material with effect from New Year.
The prices of lump ore (65.5%, 6-40mm) have been increased by Rs 200 to Rs 4,300 per tonne compared with Rs 4,100 per tonne fixed on November 30, 2022. Similarly, the prices of iron ore fines (64%, -10 mm) have been raised by Rs 500 to Rs 3,410 per tonne from Rs 2,910 per tonne.
The new prices have come into effect from January 1, 2023, the NMDC said in a regulatory filing today. The prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes.
The production and sales of iron ore has been nominally affected in the month of December and also cumulative till the end of the third quarter of the fiscal 2022-23 ended December 2022. NMDC produced 3.61 million tonnes (MT) iron ore and sold 3.32 MT in December 2022.
The cumulative production and sales in the first nine months or three quarters of the current financial year was clocked at 26.93 MT and 25.80 MT respectively.
