Centre hikes iron ore prices by ₹200/tonne, 3rd hike this quarter

The National Mineral Development Corporation (NMDC) under Ministry of Steel has raised iron ore prices by ₹200 per tonne and fines by ₹150 per tonne, making its third hike in this quarter. The revised rates are effective starting June 3, and exclude royalty, and GST. Iron ore is a key raw material used in steel production through blast furnace route.