Team News Riveting
Raipur, July 12
National Mineral Development Corporation (NMDC) has slashed the price of iron ore by Rs 200 per tonne.
In a filing to the BSE, the country’s largest iron-ore producer said it had fixed the price of lumps or high-grade iron ore at Rs 7450 per tonne and that of iron ore fines or inferior grade ore at Rs 6360 a tonne. The revised prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes, the company said.
The price would come into effect from July 10, the company said.
In June, NMDC’s lump ore prices (65.5 per cent Fe) were at Rs 7,650 a tonne and iron ore fines (64 per cent Fe) at 6,560 a tonne.
In June, the company’s production surged 18 per cent to 2.98 million tonne (MT) compared to 2.52 MT registered during the previous year’s corresponding period. The sales went up by nearly 30 per cent. The company recorded a sale of 3.18 MT in June 2021 compared to previous year’s 2.48 MT.
The cumulative production and sales till June 2021 were 8.89 MT and 9.57 MT respectively, achieving 34 per cent increase in production and 49 per cent in sales over the corresponding period of last fiscal. With this, the company surpasses its previous best for any first quarter (Q1) since inception.
