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NMDC Cuts Iron ore Price Fourth Time this Year

Iron ore producer NMDC has reduced the prices by ₹ 200 per tonne of lump and by ₹ 400 for the same quantity of fines. This is the fourth reduction NMDC has done in this fiscal year.

Effective 5th October 2021, the new prices are ₹5,950 per tonne of lump ore and ₹4,760 per tonne of fines as against ₹6,150 and ₹5,160 respectively that the company had fixed last month.

In July, NMDC had reduced the prices by ₹ 200 per tonne for both lump and fines, while in August it slashed them by ₹ 300 a tonne for lump and by ₹ 200 for fines.