Iron ore prices zoom 80% in 3 months on stable demand, buck global trends

Prices to stay elevated despite range bound international trends

Iron ore prices in the country have rocketed over the past three months, aided by stable demand from end-use industries and bucking global trends where prices have stayed range bound.

Between June and September, the average iron ore fines prices in the country have soared almost 80 per cent, rising from Rs 1,862 to Rs 3,350 per tonne. Lumps opted by steel makers as feed to their blast furnaces have also moved north with prices increasing 29.46 per cent in the period from Rs 4094 to Rs 5300 a tonne. NMDC, the largest producer had recently announced hike in iron