NMDC hikes iron ore prices by Rs 400 per tonne

State-owned miner NMDC on Tuesday raised its prices of iron ore by Rs 400 per tonne to Rs 6,000 per tonne. The company also hiked fines prices to Rs 4,960 from Rs 4,560 per tonne.

This is the third time in Q4FY22 that NMDC has hiked lump ore and fines prices

"The... prices are excluding royalty, district mineral fund, cess, forest permit fee and other taxes," it said.

The revised prices are effective from today, March 8, 2022, the company said.

Meanwhile, in April-February period of 2021-22, NMDC has posted a 26 per cent jump in its iron ore output to 37.18 million tonnes (MT), it had earlier said.

During the year-ago period, the company had produced 29.52 MT of iron ore, the Ministry of Steel said.

In February 2022, the company saw its production growing 11.7 per cent to 4.31 MT from 3.86 MT in the same month last year.

According to the ministry, NMDC's sales during the 11-month period also grew by 25.5 per cent to 36.57 MT, from 29.15 MT a year ago.

Its sales in February climbed 22.2 per cent to 3.97 MT, from 3.25 MT in February 2021.

Shares of NMDC were trading 0.42 per cent higher at Rs 153.60 apiece during late trade.