NMDC Limited has revised its iron ore prices effective July 10, 2026, cutting lump and fines prices amid weaker seaborne iron ore markets and softening Chinese demand. According to Morgan Stanley, NMDC reduced lump prices by ₹250 per ton and fines prices by ₹150 per ton, translating to reductions of ₹310 per ton and ₹190 per ton respectively on an inclusive-of-taxes basis.

Revised Iron Ore Pricing

The updated prices are set on a Free on Rail (FOR) basis and are exclusive of various statutory levies, including Royalty, District Mineral Foundation (DMF), National Mineral Exploration Trust (NMEDT), Cess, Forest Permit Fee, Transit Fee, Goods and Services Tax (GST), Environmental Cess, and other applicable taxes. The following table details the revised prices:

Market Context: Seaborne Weakness and Chinese Demand

Morgan Stanley attributed the price cuts to a combination of weaker seaborne iron ore prices and softer Chinese demand. Seaborne iron ore prices have declined approximately 7% since May-end, creating downward pressure on domestic pricing. Despite the reduction, Morgan Stanley noted that domestic fines continue to trade at a 50% discount to import parity, compared to the five-year average discount of 56%, suggesting domestic prices remain relatively elevated against the longer-term historical norm.

Regulatory Disclosure

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. NMDC has confirmed that the updated pricing information is available on its official website.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE584A01023/2d53ad576e58441c.pdf

NMDC reported a 44% year-on-year increase in iron ore production for June 2026, reaching 5.15 MT. Sales for the month grew 11% year-on-year to 3.98 MT, reflecting continued demand for the company's iron ore. The performance underscores the company's strengthened mining operations during the period.

Monthly Performance Highlights

The June figures demonstrate a significant acceleration in production compared to the corresponding month of the previous year. The following table summarizes the key operational metrics for June:

Q1 FY27 Cumulative Performance

For the first quarter of FY27, NMDC's cumulative iron ore production stood at 15.10 MT, while total sales for the quarter reached 11.75 MT. The quarterly figures reflect the company's sustained operational output across its mining facilities during the period.

The strong year-on-year growth in June production, combined with the quarterly output figures, highlights NMDC's operational scale during Q1 FY27. The 44% production growth in June stands out as a notable achievement within the quarter's overall performance.