NMDC Raises Baila Lump Iron Ore Price; Second Revision in a Month

State-owned iron ore miner NMDC has once again revised the prices of its key raw materials, increasing the Baila Lump iron ore rate by ₹50 per tonne. With this adjustment taking effect from November 15, the new price stands at ₹5,600 per tonne. The company confirmed the revision in a regulatory filing, highlighting ongoing price realignments in response to evolving market conditions within the steel and mining sectors.

Interestingly, while the Baila Lump price has been increased, the Baila Fines rate remains unchanged at ₹4,750 per tonne. This strategic move reflects a calibrated pricing approach by NMDC, balancing supply dynamics and industry demand. The latest revision also underscores heightened volatility in raw material costs, which directly impacts steel manufacturers across the country.

This revision is particularly notable as it marks the second price change by NMDC within a span of just one month. During the previous revision on October 22, the company had reduced the Baila Lump price by ₹550 and trimmed the Fines rate by ₹500, bringing a temporary relief to downstream industries. Before that, on August 1, prices had been revised to ₹6,100 for Baila Lump and ₹5,250 for Baila Fines.

With this latest update, NMDC has now altered its iron ore pricing seven times since January and six times in the current financial year alone. Earlier in 2025, the first revision on January 9 set the lump price at ₹6,000 and fines at ₹5,060. Subsequent adjustments on May 1, June 4, and July 1 reflected a mix of increases and reductions driven by demand cycles, production volumes, and operational costs.

These FOR prices include royalty, DMF, and NMET but exclude cess, forest permit fees, GST, and other statutory charges. As the steel sector continues to witness dynamic shifts, NMDC’s pricing strategy remains a key indicator of raw material trends for manufacturers nationwide.