India’s iron ore production dropped around 18% m-o-m to a little under 16 million tonnes (mnt) in July 2022 from over 19 mnt in June, as per latest SteelMint data. Production fell on weak demand and offtake since the imposition of export duty on finished steel and steelmaking raw materials and intermediaries in May in a bid to control runaway inflation.
On the other hand, production fell marginally by around 1.5% to over 150 mnt in January-July this year compared to the same period last year.
Leave a Reply