India: Rungta Mines Iron Ore Production Fall Sharply in Aug’18

Rungta Mines – India’s largest private merchant miner produced 0.91 MnT iron ore from its mines in Odisha in Aug’18, down by 40% M-o-M as against 1.51 MnT in Jul’18.

Odisha – India’s largest iron ore producing state has witnessed a marginal decline of 3% in production in Aug’18 at 6.64 MnT, as compared to Jul’18 production at 6.82 MnT. The figures include material type – fines, lump, and concentrate. Owing to monsoons, the state’s iron ore production has declined in the past few months.

According to the provisional data of Odisha Govt. maintained by SteelMint, state’s production recorded a decrease of 3% Y-o-Y in Aug’18 as against Aug’17 production at 6.87 MnT.

Tata iron ore production stood at 1.04 MnT (stable M-o-M) and SAIL at 0.7 MnT stable on monthly basis).

Iron ore production of state-owned miner- OMC marked a sharp decline of 14% to 0.18 MnT for the month as against 0.21 MnT in Jul’18.

RP Sao recorded an increased production in Aug’18 at 0.47 MnT, up 18% as against 0.4 MnT in Jul’18.

KJS Ahluwalia’s production increased by 12% and Serajuddin has depicted stable in production for the month of Aug’18. Essel mining production witnessed at 0.54 MnT (down 10% M-o-M), and KN Ram at 0.1 MnT (down 29% on monthly basis).

Odisha Mine-wise Iron Ore Production:

Source: Govt. of Odisha
Provisional data
Quantity in MnT

Odisha merchant miners had raised prices thrice from end Aug to early Sept. According to sources, after the announced successive price hikes, iron ore buying interest witnessed reduction following a decline in the sponge and domestic pellet offers. Now miners are heard giving discounts to increase buying interest.