After NMDC, Odisha miners follow suit and hike iron ore prices

Taking cues from NMDC, the country's largest iron ore miner, lessees in Odisha have hiked ore prices by up to Rs 500 per tonne in less than a month. Over the past two weeks, prices of 62.5 per cent-grade iron ore fines have appreciated by 12-14 per cent, much in line with the steep hikes effected by NMDC for its December deliveries.  

Key merchant iron ore producers in Odisha like Rungta Mines and KJS Ahluwalia have gone for sharp price increases. For Rungta Mines, ex-mine price of 62.5-grade iron ore fines has gone up from Rs 1,575 to Rs 1,925