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State-owned NMDC on Tuesday said it has slashed prices of iron ore lump and its fines by Rs 600 and Rs 500 per tonne, respectively, with immediate effect. It has fixed the price of lump ore at Rs 5,700 per tonne and fines at Rs 4,850 a tonne, the country's largest iron ore miner said in a regulatory filing. Lump ores or high-grade iron ores contain 65.5 per cent iron content, while fines are inferior-grade ores with 64 per cent or less iron content. In the last price revision announced on June 4, NMDC had fixed the rate of the lump at Rs 6,300 per tonne and that of fines at Rs 5,350 per tonne. The prices effective from July 1 are inclusive of royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET) and exclude cess, forest permit fee, transit fee, GST, environmental cess and other taxes. According to market research firm BigMint, "The domestic steel market remained under acute pressure, as prices continued on their downward trajectory. Throughout June, the r
State-owned NMDC has reported a 15 per cent rise in its iron ore production and 3 per cent growth in sales of the mineral in April. In a statement on Sunday, NMDC said it produced 4 million tonnes (MnT) iron ore in April, higher from 3.48 MnT in same month last year. NMDC sold 3.63 MnT iron ore last month, up from 3.53 MnT in April 2024. NMDC CMD Amitava Mukherjee said, "Our record-breaking April performance, coupled with best-ever despatch figures from our major iron ore mines -- Kirandul, Bacheli, and Donimalai -- with a growth of 12 per cent, 4 per cent and 88 per cent, respectively over CPLY solidifies our leadership position and sets a strong foundation for achieving our ambitious target of becoming 100 MT mining company by 2030." The company's pellet production soared to an all-time high of 0.23 lakh tonnes, surpassing the previous April record set in 2018. Under the Ministry of Mines, NMDC is India's largest iron ore producing entity. Meanwhile, NMDC Steel Limited (NSL), a