NMDC cuts iron ore prices from August 8
New Delhi, August 8
The Ministry of Steel-owned NMDC has revised the prices of its iron ore products, according to a regulatory filing by the company.
In the filing made under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company said the revised prices will be effective from August 8, 2026.
According to the disclosure, the price of Lump Ore (65.5%, 10-40 mm) has been fixed at Rs 5,250 per tonne, while Fines (64%, -10 mm) has been priced at Rs 4,500 per tonne.
The revised price of lump ore is down from Rs 5,450 per tonne in July, while the price of fines has been reduced from Rs 4,700 per tonne, according to data released by the Ministry of Steel.
"The above are FOR prices that are exclusive of Royalty, DMF, NMEDT, Cess, Forest Permit Fee, transit fee, GST, environmental Cess and other taxes.," the filing stated.
The price revision comes after NMDC reported its best-ever July production performance, with iron ore production rising 31 per cent year-on-year to 4.06 million tonnes (MT), the Ministry of Steel said in a recent update.
The company's cumulative production during April-July 2026 stood at 19.16 MT, while sales were at 15.15 MT, reflecting sustained operational momentum, the ministry said.
"An NMDC delegation held discussions with senior officials in Argentina to explore investment and partnership opportunities in copper and other strategic minerals, strengthening NMDC's international mineral development initiatives," the Ministry of Steel said in the release.
The developments come as NMDC continues to expand its operations while also exploring opportunities in strategic minerals.
— ANI
Reader Comments
It's good that NMDC is reducing prices, but let's not forget that the FOR price doesn't include all those taxes and levies. By the time it reaches the end consumer, the actual cost is much higher. The government should look at rationalizing these additional charges as well.
Best-ever July production performance is impressive! 31% YoY growth shows NMDC is scaling up well. The price cut is a smart business move to stay competitive. Also interesting to see them exploring copper in Argentina - diversification is always good. 🇮🇳💪
The price cut is minimal though - just Rs 200 per tonne for both lump and fines. With all the additional taxes, the effective reduction for steel makers might not be significant. Still, every little bit helps, especially when the industry is pushing for competitive input costs.
The Argentina connection is interesting. NMDC expanding into strategic minerals like copper is a welcome step for India's resource security. With production at 19.16 MT in first four months, the company seems to be in a strong position. The price cut is a win-win for all stakeholders. 👍
Reducing prices during a period of strong demand is certainly a responsible thing for a navratna PSU to do. However, maybe NMDC should also look at streamlining its logistics to ensure that the price cut benefits the downstream industries fully. The mining sector needs more such proactive steps.
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