NMDC reports 7 per cent rise in Lump Ore prices for January 2020

NMDC Limited published prices of iron ore with effect from January 2, 2019, in a stock exchange filing on Thursday after market hours.

The company in its press release said that the price of Lump Ore has been fixed at Rs 2,800 per ton. Further the price of Fines has been fixed at Rs 2,560 per tonne. The above FOR prices are excluding the royalty, DMF, NMET, cess, forest permit fee, and other taxes. The Lump Ore prices reached high levels of Rs. 3,100 per tonne in June 2019. Fines also registered the highest realisation of Rs. 2,860 per tonne till the same month. But the higher realisation could not help the company to maintain the revenue growth. The volumes have seen a consistent decline since the end of March 2019. The iron ore production also declined during the quarter by nearly 5 per cent on YoY basis.

During December month, though, the company saw growth in production and sales volumes. However, on the whole, the volumes may be in a declining trend for the quater on YoY basis. The revenue degrowth in the range of 12 to 15 per cent can be expected for the third quarter.

At 11.15 am the stock traded at Rs 129.65 per share price, down by 1.18 per cent on the BSE.