NMDC announces a second price hike as expected. The country's largest iron ore miner had first hiked prices in January 1, 2020. They had hiked prices of lumps and fine ore by around Rs 200 per tonne.

Sources and dealers indicate that iron ore prices are up by around 13-14 percent, translating to a hike of Rs 350-400 per tonne.

The reasons for these price hikes could be a potential supply disruption of iron ore in the next couple of months, which could last for the first half of financial year FY21. Odisha miners have already announced price hike of Iron ore and now NMDC has done likewise.

Pellet prices as well have moved to multi-month highs. The managements of Godawari Power and Ispat, and Sarda Energy and Minerals have indicated that prices have shot up.

Steel prices too have spiked. Therefore, the entire ferrous space has been doing well.