India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
NMDC, a state-owned mining company, hiked iron prices by ₹400 per tonne starting January 24. The company has revised the price of lump ore upward twice this month, bringing it to ₹6,000 per tonne and ₹5,310 for a similar quantity of fine ore.
The last revision on January 2 increased the lump ore price per tonne by ₹200 to ₹5,600 and the fines price per tonne by ₹250 to ₹4,910 for NMDC, the largest iron ore producer in India. A vital component of steel is iron ore, and price changes indicate the demand for the finished good.
NMDC announced the revision on Wednesday, saying these are FOR prices and inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee, transit fee, GST, environment cess, infrastructure cess, and other taxes. NMDC shares closed 4.59% higher at ₹211.80 apiece on the BSE.
Also Read : Coal's share in India's power generation capacity fell below 50% for 1st time Iron ore gains on hopes of more stimulus, improved demand in China
Tata Group, an Indian conglomerate, revealed on Wednesday that its new multibillion-pound battery ma...
Large Corporate 28-Feb-2024
More than two dozen Vietnamese businesses have been awaiting certification from the Bureau of Indian...
Ferrous 28-May-2024
The Indian Chamber of Commerce (ICC) has urged that the government reduce customs tariffs in a varie...
Notification 17-Jul-2024
Godawari Power and Ispat Ltd. (GPIL) announced on Saturday that they have received permission from t...
Ferrous 20-Jan-2024
GST rate rationalisation, in all probability, will take place only after Lok Sabha polls, a senior F...
Taxation 09-Feb-2024
Salzgitter Flachstahl GmbH, a German steelmaker, has signed a 10-year agreement with UK-based Octopu...
Europe 23-Feb-2024