According to iron ore railway rake movement data maintained with SteelMint, it has been observed that movement for all three-zones have been come down by around 50% from the last couple of days. The three zones namely – east-coast, South-west, and South-east railways have seen a sharp drop in movement numbers recently.
— East coast iron ore rake movement which was recorded at 21 rakes on 20th Mar’20 which has come down to 13 rakes on 23rd March.
— Similarly for the South-east region and South-west rake movement which were 41 and 7 rakes on 20th Mar’20 which got reduced to 20 and 3 rakes respectively on 23rd Mar 2020.
Lockdown has been imposed in most of the Indian cities in order to fight against the spread of COVID-19. Lock-down in many states and sealing of key state borders has suspended inter & intrastate material movement in major parts of India. Due to manpower shortage, the movement of material has also been impacted.
Also, there was a slow-down seen in bookings, as the buyers are reluctant to place any fresh orders for iron ore as they were worried about the delivery of material by 31st Mar 20 owing to mine lease expiry.
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