NMDC drops after lowering iron ore prices for July'26

NMDC declined 1.78% to Rs 83.37 after the company reduced the prices of Baila Lump and Baila Fines with effect from 10 July 2026.

The state-owned miner cut the price of Baila Lump (65.5%, 10-40 mm) by Rs 250 per tonne to Rs 5,450 per tonne in July?26 from Rs 5,700 per tonne in June?26. It also reduced the price of Baila Fines (64%, -10 mm) by Rs 150 per tonne to Rs 4,700 per tonne from Rs 4,850 per tonne.

Meanwhile, the foreign broker said the effective price reduction, including taxes and charges, works out to Rs 310 per tonne for lumps and Rs 190 per tonne for fines. Accordingly, the revised prices, including taxes and charges, are Rs 6,745 per tonne for lump ore and Rs 5,815 per tonne for fines.

The brokerage noted that the price cut was largely in line with market expectations, citing continued weakness in global iron ore prices. It said seaborne iron ore prices have softened as increased supply has coincided with weaker demand from China, putting pressure on benchmark prices.

NMDC is engaged in the exploration and production of iron ore along with diamond production and the sale of sponge iron and the generation and sale of wind power. The company reported a 35.03% jump in standalone net profit to Rs 2,020.13 crore on a 60.69% jump in revenue from operations to Rs 11,173.14 crore in Q4 FY26 over Q4 FY25.

Powered by Capital Market - Live News