New Delhi: State-owned NMDC Limited said in a regulatory filing on Tuesday said that it has fixed prices of lump ore and fines effective from May 29. NMDC has a fixed price at the rate of Rs 3,900 per tonne for lump ore, consisting of 65.5 percent iron content and is of the size of about 6-40 mm. The PSU also fixed prices for fines at the rate of Rs 3,560 per tonne, consisting of 64 percent iron.

Further, the filing noted the prices are Free on Rail (FOR) prices and do not include additional charges such as Royalty, DMF (District Mineral Foundation), NMET (National Mineral Exploration Trust), Cess, Forest Permit Fee, and other applicable taxes.

The revised prices set by NMDC will have implications for various stakeholders in the iron and steel industry, as well as for the broader economy. The new prices reflect the prevailing market conditions and are subject to periodic revisions based on factors such as demand, supply, and global market trends. Iron ore prices have a significant impact on the cost structure of steel manufacturers, as iron ore is a vital raw material in steel production.

The Indian iron ore market is dynamic, influenced by both domestic and international factors. Any changes in iron ore prices can have ripple effects on the steel industry, which, in turn, plays a crucial role in various sectors of the economy, including infrastructure, construction, and manufacturing.

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