NMDC raises iron ore prices by Rs300 per tonne; Stock gains ~2%

1 Dec 2022 , 09:16 AM

NMDC Ltd has announced that the prices of Iron Ore has been fixed as under w.e.f. November 30, 2022.

• Lump Ore (65.5%, 6-40mm) @Rs4,100/- per ton
• Fines (64%, -10mm) @ Rs2,910/- per ton

Notably, the above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes, the company said in a regulatory filing on Wednesday.

Meanwhile, the increase restores the price of Lump and Fines to the level NMDC had set on August 11 and maintained until the change earlier this month. Iron ore is a key raw material in steel production and any change in the price also reflects on the demand for the end products.

At around 9:17 AM, NMDC Ltd is currently trading at Rs119.80 per share up by Rs2.15 or 1.83% from its previous closing of Rs117.65 per share on the BSE.

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