3 weeks ago
NMDC cuts iron ore prices effective from August 8
NMDC is a big company in India that digs iron ore out of the ground.
Iron ore is a special rock used to make steel for things like cars and bridges.
The company has decided to make its iron ore cheaper starting August 8, 2026.
One type, called lump ore, will now cost ₹5,250 for one tonne.
Another type, called fines, will cost ₹4,500 for one tonne.
Before this, lump ore cost ₹5,450 and fines cost ₹4,700 per tonne.
The company just had its best July ever for producing iron ore.
It made 4.06 million tonnes in July, which is 31% more than last year.
From April to July it produced 19.16 million tonnes and sold 15.15 million tonnes.
NMDC is also talking to officials in Argentina about finding copper and other useful minerals.
Ministry of Steel-owned NMDC revised its iron ore product prices effective August 8, 2026, per a regulatory filing.
Lump Ore (65.5%, 10-40 mm) was cut to ₹5,250 per tonne from ₹5,450 in July.
Fines (64%, -10 mm) were reduced to ₹4,500 per tonne from ₹4,700.
The cut follows NMDC's best-ever July production, with output up 31% year-on-year to 4.06 million tonnes.
April-July 2026 production stood at 19.16 MT with sales at 15.15 MT, while NMDC explored copper opportunities in Argentina.
- Who
- NMDC, a Ministry of Steel-owned mining company, announced the price revision.
- What
- NMDC reduced the prices of its iron ore products, including Lump Ore and Fines.
- Where
- India, where NMDC operates; the company also held discussions with officials in Argentina.
- When
- The revised prices are effective from August 8, 2026.
- Why
- The price revision comes after NMDC reported its best-ever July production, with output rising 31% year-on-year.
Key facts
- Company
- NMDC (Ministry of Steel-owned)
- Effective date
- August 8, 2026
- Lump Ore price (65.5%, 10-40 mm)
- ₹5,250 per tonne (down from ₹5,450)
- Fines price (64%, -10 mm)
- ₹4,500 per tonne (down from ₹4,700)
- July 2026 production
- 4.06 million tonnes, up 31% year-on-year
- April-July 2026 production
- 19.16 million tonnes
- April-July 2026 sales
- 15.15 million tonnes
- Price basis
- FOR prices, exclusive of royalty, DMF, NMEDT, cess, fees, GST and other taxes
Quotes
NMDC filing
Company regulatory filing statement
“The above are FOR prices that are exclusive of Royalty, DMF, NMEDT, Cess, Forest Permit Fee, transit fee, GST, environmental Cess and other taxes.”
thehindubusinessline.com
Sources
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