India state-run miner NMDC Limited has slashed prices of iron ore lumps and fines for all deliveries effective immediately, according to company sources on Wednesday, August 7.
The price of iron ore lumps (10-40 mm, Fe content of 67 percent and higher) has been dropped by INR 600/mt ($7/mt) to INR 6,420/mt ($76.51/mt) ex-pithead, while that of iron ore fines (less than 10 mm, Fe content of 64 percent) has been reduced by INR 500/mt ($6/mt) to INR 4,610/mt ($54.94/mt) ex-pithead.
Industry sources said that, following the latest cuts, NMDC Limited’s iron ore price has touched a 10-month low.
All prices are inclusive of mandatory levies like District Mineral Fund (DMF), National Mineral Exploration Trust (DMET) cess and forest permit fees.