NMDC hikes Iron Ore Prices upto 11%, 2nd hike in November

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Biznextindia : Indicating a recovery in demand, Public sector miner NMDC on Tuesday hiked its Iron Ore prices upto 11 per cent.

While the lump ore ( 65.5%, 6-40mm)  prices has been hiked by 11 per cent to Rs. 4000 per tonne, Fine (64%, -10 mm) prices has been hiked by 9 per cent to Rs. 3610 per tonne.

This is the 2nd price hike in the current month. On 4th November, the company has announced price hike of its Iron Ore upto 4.7 per cent. After this hike, lump ore ( 65.5%, 6-40mm)  prices had been fixed at Rs. 3600 and  Fine (64%, -10 mm) prices had been fixed at Rs. 3310.

The PSU miner had reported 2.4 per cent drop in its October Iron Ore production at 2.43 million tonnes (MT) against 2.49 million tonnes in October 2019. However, on month on month basis, its Iron Ore output has registered a significant growth of 33 per cent, against the September output of 1.83 MT. NMDC’s October Iron Ore Sales has also dropped by 3.4 per cent to 2.52 MT from 2.61 MT in October 2019.

NMDC Iron Ore Prices

Iron Ore Type 17th  November 4th  November 8th  October 5th September
Lump ore ( 65.5%, 6-40 mm) Rs. 4000 Rs.3600 Rs.3450 Rs.3250
Fine (64%, -10 mm) prices Rs.3610 Rs.3310 Rs.3160 Rs.2960

 

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