India: NMDC’s iron ore rake movements drop 5% m-o-m in Mar’25

• Supplies to Chhattisgarh-based units drop 9% m-o-m
• NMDC’s production falls by 2% y-o-y in FY’25

The National Mineral Development Corporation (NMDC), India’s largest iron ore miner, dispatched 525 rakes from its Chhattisgarh mines in March 2025, equivalent to 2.02 million tonnes (mnt) of iron ore. This was a decline of 5% compared to 552 rakes (2.12 mnt) in February, as per BigMint data.

These rake movements were within Chhattisgarh and to other state-based units but excluded supply to AM/NS India through slurry pipeline. Each rake carries around 3,850 t of iron ore.

The workers’ strike, driven by the ongoing wage settlement dispute between trade unions and the company management, impacted operations last month. The company’s production dropped 2% y-o-y in FY’25.

Sourcing by units outside Chhattisgarh drops

Overall, NMDC’s iron ore movements to plants outside Chhattisgarh fell marginally by 3% to 368 rakes in March against 381 rakes in February.

Rashtriya Ispat Nigam Limited (RINL) emerged as the top buyer in March, receiving 148 rakes against 140 booked in the previous month, a increase of 6%.

JSW Steel, Dolvi, received 112 iron ore rakes in March, a rise of 30% compared with 86 in February.

KIOCL recorded a sharp decrease of 54% in its iron ore rake bookings from NMDC, at 24 in March compared to 52 in February. Fall in export sentiments amid weak Chinese demand decreased the company’s iron ore procurement.

AM/NS India sourced 21 rakes in March against 35 rakes in February, down 40% m-o-m.

Decline in sourcing by Chhattisgarh-based units

NMDC dispatched 157 (0.60 mnt) iron ore rakes to Chhattisgarh-based units in March, down 9% m-o-m as against 171 (0.66 mnt) in February. Central India-based sponge iron players diverted their buying interest to pellets owing to slower iron ore supplies from NMDC last month. Additionally, NMDC’s supplies to its Nagarnar plant remained largely stable in March at 81 rakes compared to 80 in February.