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NMDC Lowers Sales Price of Lump First Time in 8 Months
= Premium for lump has shrunk to Rs 440 ($6.25) =
India's NMDC, a state-run iron ore producer, announced on 3 December that it has revised its sales prices of iron ore per ton, effective retroactively to 1 December: The price of lump has been lowered by 300 rupees (Rs) (approx. $4.26, at $1= Rs 70.36) to 3,550 rupees (Rs) (approx. $50.45, at $1= Rs 70.36), so has the price of fines by the same margin to Rs 3,110 (approx. $44.20). This is NMDC's first simultaneous price cuts in 8 months (since 18 April 2018). With this revision, the lump premium has shrunk to Rs 440 ($6.25) from Rs 540 ($7.67) in the previous month.

The prices do not include Royalty, the District Mineral Foundation (DMF), Forest Permit Fee, and taxes, and are on FOR (free on rail) basis. NMDC is engaged in steel-making resources of iron ore, coal, and lime, as well as diamond business, and is eager on development of resources overseas and securing the country's interests.
last modified : Tue 11 Dec, 2018 [10:41]
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