NMDC slashes iron ore prices
The state-owned mining company on Tuesday slashed prices of lump ore by Rs 750 a tonne and fines Rs 200 per tonne, with immediate effect.
NMDC fixed prices for lump iron ore (65.5%, 6-40mm) at Rs 5200 per ton and iron fines (64% - 10mm) at Rs 4,560 per ton with effect from 30 November 2021.On 5 November 2021, the company had fixed the rates of lump ore at Rs 5,950 per tonne, and that of fines at Rs 4,760 a tonne, with effect from 4 November 2021.
NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.
On a consolidated basis, net profit of NMDC rose 209.18% to Rs 2326.14 crore on 204.66% increase in net sales to Rs 6793.51 crore in Q2 September 2021 over Q2 September 2020.
Shares of NMDC were up 1.46% at Rs 135.20 on the BSE.
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First Published: Dec 01 2021 | 9:37 AM IST