Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share 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.
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