India’s NMDC Limited, the country’s largest iron ore miner, has cut its price for high grade iron ore lumps with Fe content of 63.5 percent and higher by 5.5 percent for July compared to June to INR 1,700/mt ($25/mt), a company official said on Tuesday, July 5.
However, the official said that the price for low grade iron ore lumps will remain unchanged at INR 1,460/mt ($21/mt) for July.
This is the second consecutive month in which the miner has adjusted prices, having cut prices of high grade iron ore lumps by 10 percent in June, the official said.
The effective price for July will be exclusive of all mandatory government levies, the official added.