NMDC hikes iron ore prices by 18.7% since August

 State-owned 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.

In October 1 price revision saw lump ore priced at Rs 5,750 per tonne and fines at Rs 5,010 per tonne. This recent 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.