NMDC makes Second Sharp Cut in Iron Ore Prices for December
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India's biggest iron ore producer, NMDC Ltd, has announced a second price cut of about 10% in the price of mineral for the month of December, SteelMint has heard from its market sources.
The public sector miner, which fixes prices at every month, has once again cut the prices of lump ore to INR 3,250 per wet metric tonne (wmt) (USD 45.2/wmt) from INR 3,550/wmt, iron ore fines to INR 2,860/wmt (USD 39.1/wmt) from INR 3,110/wmt, and DR CLO to 3,835/wmt (USD 53.4/wmt) from INR 4,260/wmt, according to sources.
NMDC Chhattisgarh's Iron Prices as on 12 Dec'18
| Material Type | Current Price (in INR) | Current Price (in USD) | Change (against last price) in INR/MT | Change in % |
| DR-CLO | 3,835 | 54 | 425 | -10.0% |
| Baila Lumps | 3,250 | 45 | 300 | -8.4% |
| Baila Fines | 2,860 | 40 | 250 | -8.0% |
| ROM | 3,010 | 42 | 275 | -8.4% |
Prices on FoR siding basis
Royalty (15%), DMF (4.5%), NMET (0.3%), & other taxes extra
Source: SteelMint
