India’s largest iron ore miner – NMDC has released the performance report for the Q1 ended Jun-17 over Q1 last year.
NMDC has recorded highest ever iron ore production in FY17. As per company officials reporting to SteelMint, NMDC’s iron ore production increased by 19% Y-o-Y from 28.57 MnT in FY16 to above 34 MnT in FY17.
NMDC’s iron ore production was around 23 MnT from its Bailadila mines in Chhattisgarh and it produced 12 MnT iron ore from its Karnataka based mines in FY17.
The miner accounts for nearly 45% share in Karnataka state iron ore production. It operates two mines in Karnataka state namely Donimalai and Kumaraswamy. NMDC accounted for 46% share in total allotted quantity via e-auctions in FY17.
NMDC Performance Q1-FY18 Vs Q1-FY17
| Particulars |
FY18-Q1 |
FY17-Q1 |
% Change |
| Production |
8.50 |
7.61 |
12% |
| Sales |
9.18 |
7.78 |
18% |
| Domestic Sales |
8.45 |
7.03 |
20% |
| Export Sales |
0.74 |
0.75 |
-1% |
| PAT |
969 |
711 |
36% |
| Lump Prices |
2642 |
2037 |
30% |
| Fines Prices |
2222 |
1642 |
35% |
Qty in MnT
Product wise basic average domestic prices of Iron Ore in INR/MT (Excluding Statutory Levies)
PAT in Crores
Source: Company Report
NMDC has announced to keep the prices unchanged for Aug’17 deliveries. The miner had cut prices up to 9% for Jul’17 deliveries. Baila lump and fines prices were brought down by INR 200/MT M-o-M.
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