India’s largest merchant and govt-owned iron ore miner, NMDC has announced a sharp price hike for Apr’21, SteelMint learned from credible sources. The price of DR CLO (Fe 67%) has been increased by INR 580/t, Baila lump by INR 500/t and that of fines by INR 250/t. The miner’s total iron ore production for FY’21 was recorded at 34.11 mn t, up 8% y-o-y. Domestic iron ore prices in India have shot up on the back of limited offers upon exhaustion of EC limits of few Odisha-based mines and recently announced changes in MMDR Amendment Act, 2021 for charging additional amount on grant/extension of mining leases.
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