NMDC increases iron ore prices by over 18% since August

New Delhi: NMDC has announced another price hike for its iron ore effective from October 23, a notification said.

The price of lump ore has increased by 18.69 percent since August this year and by 10.43 percent in October alone to Rs 6,350 per tonne.

PSU Watch is now on Whatsapp Channels. Click here to join

While fines have seen a 17.35 percent hike since August and a nearly 8 percent rise in October to Rs 5,410 per tonne.

In October 1 price revision saw lump ore priced at Rs 5,750 per tonne and fines at Rs 5,010 per tonne. The latest hike reflects an additional increase of 10.4 percent for lump ore and 7.99 percent for fines within just three weeks of the October 1 adjustment.

On August 7, this year, the price for lump ore stood at Rs 5,350 per tonne and fines at Rs 4,610 per tonne.

The price increases include royalties, district mineral foundation (DMF) charges, and National Mineral Exploration Trust (NMET) fees, but exclude cess, forest permit fees, GST, and other taxes.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)