India: NMDC hikes iron ore prices by up to INR 200/t ($3/t)

India’s largest merchant iron ore miner NMDC has raised iron ore list prices by up to INR 200/t today for Apr’22 deliveries.

• Baila lump (6-40mm, Fe 65.5%) – INR 6,100/t (+100/t)
• DR CLO (10-40mm, Fe 67%) – INR 7,320/t (+120/t)
• Baila fines (Fe 64%) – INR 5,160/t (+200/t)
• Prices are on FOR basis, excluding royalty and taxes. Notably, royalty rates for Jan have come down compared with Dec’21.