NMDC Ltd. hiked the price of lump ore and iron-ore fines on Thursday, pushing up the iron ore prices to a 17-month high.
The iron-ore producer hiked lump-ore prices by 3.8% to Rs 5,400 per tonne and iron-ore fines by 4.4% to Rs 4,660 per tonne, according to an exchange filing on Thursday. The prices are effective from Thursday.
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Lump ore prices are the highest since May 2022, while fines prices crossed these levels in April 2022. Lump ore and fines prices have been hiked by 25.5% and 36.6% this year so far by NMDC.
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Shares of NMDC closed 0.52% higher at Rs 172.4 apiece on the NSE before the announcement, compared with a 0.05% decline in the benchmark Nifty 50.
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