Team News Riveting
Raipur, November 5
National Mineral Development Corporation (NMDC) will roll over October prices of iron ore to November 2021.
The country’s largest iron ore miner said it would maintain prices of lump ore at Rs 5950 per tonne in November 2021, while price of iron ore fines also remains unchanged at Rs 4760 tonne. The prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes.
The revised prices would come into effect from November 4, the company said in a regulatory filing today.
The company has curtailed the iron ore prices for the fourth month in a row in October and has slashed the rates of steel making raw material by 22 per cent since July 2021.
NMDC’s iron ore production jumped up by 37 per cent in October compared to the corresponding period last year (CPLY). The state-run miner produced 3.33 million tonne (MT) of iron ore in October 2021 compared to 2.43 MT output recorded during the previous year’s corresponding period. The sales surged 42.06 per cent at 3.58 MT compared to previous year’s 2.52 MT.
The cumulative production and sales till October 2021 were 21.04 MT and 22.08 MT respectively. As compared to previous year, the production and sales had increased by 43 per cent and 43.1 per cent respectively over the corresponding period of last fiscal.
