State-owned miner NMDC has reduced iron ore prices by ₹550 per tonne of Baila Lump and by ₹500 for the same quantity of Fines effective October 22.

Revising the prices after almost three months, the company said the new, per tonne price of Baila Lump is ₹5,550, while that of Baila Fines is ₹4,750. These are FOR prices inclusive of royalty, DMF, NMET and exclusive of cess, forest permit fee, transit fee, GST, environmental cess and other taxes.

India’s largest iron ore producer, NMDC, had previously reset the prices of the key raw material of steel on August 1 to ₹6,100 for Baila Lump and ₹5,250 for Baila Fines.

The latest revision is the fifth this financial year and the sixth since January. In 2025, NMDC changed the price for the first time on January 9 to ₹6,000 for the Lump variety and ₹5060 for the Fines. The next revision, the first in FY26, was on May 1 to ₹6,400 and ₹5,500 for the Lump and the Fines, respectively. Thereafter, the prices were reduced on June 4 to ₹6,300 and ₹5,350; and on July 1 to ₹5,700 and ₹4,850.

In terms of iron ore output and sales in the current fiscal, NMDC had earlier this month reported production increased 27% to 22.20 million tonne for the six months ended September compared to 17.47 MT a year earlier. Sales increased more than 12% to 22.25 MT (19.80 MT). The company is eyeing 55 MT iron ore production, which if achieved will be a new record, in current fiscal.