NMDC – India’s largest iron ore miner’s iron ore production for the month of Aug’18 was recorded at 1.46 MnT, down 35% Y-o-Y against 2.25 MnT in Aug’17. On monthly basis, it witnessed slight decline as against 1.52 MnT in July’18. Amid monsoons, miner’s iron ore production has suffered a setback.
Out of the total material produced in Aug’18, 0.67 MnT (46% of total production) stood from Bailadila mines, down 7% M-o-M and 0.79 MnT stood from Karnataka mines (inch down on monthly basis).
For first five months of FY’19, the total production witnessed at 9.85 MnT, down 25% as against 13.18 MnT in last fiscal (Apr’17- Aug’17). Out of the total 9.85 MnT, Bailadila mines contributed 63% of production at 6.17 MnT while remaining contributed by Karnataka mines at 3.68 MnT.
NMDC recorded total iron ore sales at 2.32 MnT, up 23% as against 1.88 MnT in July’18. On yearly basis, iron ore sales depicted 21% drop as against Aug’17 sales at 2.95 MnT. Also no movement for export was seen for fifth consecutive month in August’18.
For the duration Apr’18-Aug’18, the total sales depicted decline of 26% to 11.04 MnT as compared to 14.99 MnT for same duration last fiscal (Apr’17-Aug’17). Out of the total sales of 11.04 MnT in FY’19, 8.17 MnT contributed by Bailadila mines and remaining was contributed by Karnataka e-auction at 2.87 MnT.
NMDC Karnataka Iron Ore Sales Up 60% in Aug’18 –
NMDC’s iron ore sales from Karnataka iron ore mines recorded at 1.23 MnT, up 60% on monthly basis as against 0.77 MnT in July’18. Towards the end of July’18, the miner had reduced the base prices in auctions by INR 300/MT in fines and by INR 100/MT lumps. JSW Steel had increased purchases from Karnataka e-auctions in August.
The total sales from NMDC, Bailadila mines for the month recorded at 1.09 MnT, down slightly M-o-M against 1.11 MnT in previous month. Company increased prices for NMDC, Chhattisgarh by INR 140-170/MT on 22nd Aug.
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