The company stated these rates are for free on rail (FOR) and include royalty, district mineral foundation and national mineral exploration trust charges. However, the prices exclude cess, transit fees, forest permit fees, GST, environmental cess and other taxes.
In prior interactions, the management of JSW Steel had hinted on lower iron ore prices. The price cuts were anticipated but the quantum is higher than expectations, according to analysts.
Brokerage firm Morgan Stanley said the price cuts are a surprise as it had expected domestic iron ore prices to be stable or rise somewhat in the near-term.The brokerage said it expected the prices to either be stable or rise because of:
- Expectations for increased demand as steel production picks up post monsoon season.
- Expectations for safeguard duty extension that would support steel prices and hence iron ore prices as well.
- Seaborne iron prices trading in a range-bound manner
22 analysts have coverage on NMDC, of which 14 have a “buy” rating, six have a “sell”, while two others have a “hold” recommendation.
NMDC shares were down 2.4% at ₹73.8 apiece around 9.30 am on Thursday. The stock has gained 11.9% this year, so far.
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First Published: Oct 23, 2025 8:55 AM IS
