NMDC Cuts Down Iron Ore Prices by Rs 200 per Tonne

State-owned National Mineral Development Corporation (NMDC) said in an exchange filing on 12th July 2021 that it has reduced the prices of Iron Ore lump and fines (lower grade ore) by Rs 200 per tonne each. Iron Ore is the key raw material for Steel making, and any change in its prices has a direct impact on prices of Steel.

NMDC said the new rates are effective from the 10th of July 2021. 1 tonne of lump ore (high-grade Iron Ore) will cost INR 7,450 and the buyers will get iron ore fines for Rs 6,360 per tonne.