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India's NMDC cuts Iron Ore prices by Rs 200 per tonne

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MUMBAI (Scrap Register): State-run miner NMDC has slashed prices of high grade iron ore or lumps by Rs 200 to Rs 2,700 per tonne. The state-run firm also cut the prices for iron ore fines, which is inferior grade ore, by Rs 200 to Rs 2,460 per tonne, NMDC said in an exchange filing.

The revised prices exclude royalty, DMF (District Mineral Fund), NMET (National Mineral Exploration Trust), cess, forest permit fee and other taxes.

On August 20, the company had fixed prices of lump ore at Rs 2,900 per tonne and of iron ore fines at Rs 2,660 per tonne.

Iron ore is the main ingredient used in making steel. NMDC produces about 35 million tonne of iron ore from three fully mechanised mines.

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