Mining major NMDC has increased iron prices (per tonne) by ₹1,050 for lump ore and by ₹650 for the same quantity of fines.
The price per tonne has been fixed at ₹4,950 for lump ore and ₹4,210 for fines with effect from July 18, the company said on Tuesday. The prices are inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee and other taxes.
NMDC had previously revised the price to ₹3,900 and ₹3,560 respectively on May 29. The prices then were excluding royalty, DMF, NMET, cess, forest permit fee and other taxes.
The latest revision is the first increase in current fiscal by India’s largest iron ore producer. The price set on March 21 was ₹4,500 and ₹4,110 respectively, which the company on April 29 revised to ₹4,200 and ₹4,010 respectively.