News: In the regulatory filing, NMDC has informed the exchanges that it has raised the Iron Ore Lump and Fine prices by ₹400/200 per tonne to ₹6,200 and ₹5,260 per tonne, respectively.
Views: This marks a positive development as the company’s iron ore realization aligns closely with the international prices, which have risen by more than 15% to ~US$110 per tonne from the low of ~$95 per tonne reported a month ago. The company’s price revision comes broadly a month after the reduction of Iron Ore Lump and Fine prices by ₹200/250 per tonne to ₹5,800 and ₹5,060 per tonne, respectively. We turn positive on NMDC given its price hike signalling favourable demand prospects, which are expected to drive robust volume growth and profitability going forward.
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