Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian mineral producer National Mineral Development Corporation’s (NMDC) iron ore production rose by 14.9pc in August to 1.62mn mt from prior-year. Iron ore sales increased by 20.13pc to 1.79mn mt from the prior-August. 


In August, the company had increased prices of iron ore twice by around Rs500-600/mt on increased procurement of iron ore from the steel mills.


Major primary steel producers increased their capacity utilization to above 80pc following a recovery in the domestic steel demand in addition to continuous demand from the export market.


On a cumulative basis, in April-August, the company’s iron ore production decline by 11.8pc to 10.42mn mt and sales fell by 14.42% to 10.8mn mt. 


NMDC’s Chhattisgarh unit accounted for 71pc of the total production i.e 7.38mn mt and Karnataka contributed the rest of 3.04mn mt in Apr-Aug 2020 period.

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