NMDC Hikes Iron Ore Prices To 17-Month High

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.

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.

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.