Team News Riveting
Raipur, September 6
National Mineral Development Corporation (NMDC), the country’s largest iron ore producer and exporter, has reduced the prices of iron ore by Rs 1000 per tonne.
The reduction in prices is about 14 per cent compared to the prices fixed in the month of August.
In a filing to the BSE, NMDC said it had fixed the price of lumps or high-grade iron ore at Rs 6150 per tonne and that of iron ore fines or inferior grade ore at Rs 5160 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 September 4, the company said.
In August, NMDC had fixed the lump ore prices (65.5 per cent Fe) at Rs 7,150 a tonne and iron ore fines (64 per cent Fe) at 6,160 a tonne.
This is the third month in succession when the NMDC had slashed the prices of steel making raw material. The company had reduced the price by Rs 300 and Rs 200 a tonne in the month of August and July respectively.
NMDC continued with its strong performance and had registered a whopping 89 per cent rise in the production in the month of August compared to last year’s corresponding period. Country largest iron ore miner produced 3.06 million tonne (MT) in August 2021 compared to 1.62 MT recorded during the previous year’s corresponding period.
The sales of steel making raw material also surged nearly 63 per cent at 2.91 MT compared to previous year’s 1.79 MT.
