NMDC Slashes Iron Ore Prices by ₹1,000/Tonne; Shares Dip Amid Global Surge

• NMDC revised iron ore prices, effective January 9, with Baila Lump (65.5%) down by ₹1,000 to ₹4,600 per tonne.
• Baila Fines (64%) saw a reduction of ₹850, now priced at ₹3,900 per tonne.
• Crucially, the new prices are exclusive of royalty, GST, and other cess/taxes, a change from previous inclusive announcements.
• NMDC shares fell 1.1% to ₹81.1, despite global iron ore prices hitting a one-year high.
• Global iron ore prices are buoyed by China's economic support outlook and pre-holiday restocking for Lunar New Year.

Why It Matters: NMDC cut iron ore prices significantly, excluding taxes, causing a share dip despite rising global demand.