Mumbai, July 13 -- 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 sea...