NMDC slashes Iron Ore prices upto 12% in February, first price cut after 6 months
Biznexindia : Public sector Iron Ore miner NMDC has reduced Iron Ore prices upto 12 per cent for the month of February. This is for the first time NMDC has reduced prices after increasing prices continuously for the last six months.
Lump prices have been slashed by 10 per cent to Rs. 5100 from Rs.5700 per tonne previously and Fine prices have been reduced by 12 per cent to Rs.4210 from Rs.4810 per tonne earlier. The revised prices have been made effective from 7th February, the miner said in a market filing.
The above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes.
The prices NMDC stocks were at Rs.117.05, up 0.63 per cent on the NSE at 2 pm Monday.
Earlier this month, NMDC had reported 16.61 per cent rise in its January Iron Ore production at 3.86 Million tonnes (MT) from 3.31 MT in January 2020. Monthly Iron Ore sales also rose by 26 per cent to 3.74 MT.