- ALSO READ
NMDC increases iron ore lump rates by Rs 200 to Rs 4,300 per tonne
MCA approves demerger of NMDC steel plant in Chhattisgarh from NMDC
Govt may auction six mineral blocks in February, to boost mining sector
Govt to sell 50.79% in NMDC's steel plant at Nagarnar, invites bids
Goa govt to auction 5 more iron ore mining blocks located in North Goa
-
State-owned NMDC on Tuesday said it has hiked price of iron ore lumps by Rs 100 to Rs 4,500 per tonne with immediate effect.
The country's largest iron ore miner has also increased rate of iron ore fines by Rs 200 to Rs 4,110/tonne, NMDC said in a regulatory filing.
The prices are effective from Tuesday and exclude royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, the company said.
Lump ore or high-grade iron ore contains 65.53 per cent Fe (iron), while fines are inferior grade ore with 64 per cent and less Fe content.
In the last price revision announced on February 2, NMDC fixed the rate of the lump at Rs 4,400 per tonne and that of fines at Rs 3,910 a tonne with immediate effect.
Iron ore is one of the key raw materials used in manufacturing of steel, and any movement in its prices has a direct impact on rates of steel, an alloy widely used in segments such as construction, infrastructure, automobile and railways.
Hyderabad-based NMDC (formerly known as National Mineral Development Corporation) under Ministry of Steel contributes over 17 per cent to India's total iron ore production.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Tue, March 21 2023. 12:42 IST
RECOMMENDED FOR YOU