NMDC Announces Iron Ore Price Surge: A 18.69% Spike Since August

NMDC has announced another price increase for iron ore, effective October 23. The price of lump ore is up 18.69% since August, with fines rising 17.35% over the same period. The price hike includes various fees but excludes certain taxes.

In a recent update, NMDC has unveiled a significant increase in the price of iron ore, effective from October 23, 2023. This marks another adjustment in a series of price hikes that the company has implemented in recent months.

The cost of lump ore has surged by 18.69% since August, reaching Rs 6,350 per tonne. Similarly, fines have experienced a 17.35% increase, now priced at Rs 5,410 per tonne. This latest price adjustment reflects a 10.4% rise for lump ore and 7.99% for fines just three weeks after an October 1 revision.

These price adjustments, which factor in royalties and other charges but exclude certain taxes, underscore the ongoing volatility in the mineral pricing landscape. NMDC's price strategy continues to adapt to changing market conditions and regulatory frameworks.

(With inputs from agencies.)