State-run miner NMDC has increased the prices for lump ore and iron ore fines by 150 a ton with effect from August 22.
The company informed exchanges that the price has been increased to 3,350 a ton from 3,200 a ton for lump ore and to 2,960 a ton from 2,810 a ton for iron ore fines.
Unlike in the past, this price hike will also include Karnataka, said company sources, adding that it was meant to reduce the gap between iron ore sold from the NDMC mines in Chhattisgarh and Karnataka and that sold from the mines in Odisha.
Meanwhile, some iron ore miners in Odisha raised prices in the range of 200300 per ton in August-end tracking the firmness in sponge and billet prices owing to restocking in some regions, industry sources said.
India’s iron ore production in 2017-18 is estimated at about 210 million tons, 9 percent more than the previous fiscal’s.
Miners urge SC to allow export of pellets from Karnataka
Meanwhile, the Central Empowered Committee (CEC) has recommended the export of pellets from Karnataka in accordance with the Union steel ministry and the Karnataka government.
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