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NMDC raises iron ore prices again—Check rates
After slashing prices last month, state-run NMDC has bumped up iron ore rates again.
From August 1, lump ore now costs ₹6,850 per ton (up ₹450), and fines are at ₹5,250 per ton (up ₹400).
This comes right after July's steep price drops.
Price surge due to increased steel demand
The latest hike follows global trends—iron ore prices worldwide bounced back as China ramped up steel demand with new infrastructure moves.
Strong demand at home also played a part.
NMDC shares rise on price hike
By aligning with international prices, NMDC is set to boost its profits this quarter.
Investors noticed too: NMDC shares jumped almost 2.6% on August 1, outpacing the broader stock market.