NMDC iron ore production for the first month of the fiscal FY21 reported at 1.80 MnT. The output dropped 35% on a monthly basis compared to 2.76 MnT in Mar’20. On a yearly basis output fell 38% as against 2.9 MnT in Apr’19.
In Apr’20, NMDC C.G contributed a major chunk of production contributing about 73% at 1.31 MnT (down 50% M-o-M basis) and remaining 0.49 MnT produced by Karnataka mines, up significantly on a monthly basis.
With the majority of steel mills curtailing steel output due to lock-down, resulted in lower iron ore purchases.
NMDC iron ore sales down 49% M-o-M
NMDC’s total iron ore sales for the month of Apr’20 recorded at 1.38 MnT as against 2.7 MnT in Mar’20. Out of the total, 78% of total sales contributed by Chhattisgarh at 1.08 MnT (down 55% M-o-M) and remaining by Karnataka mines at 0.3 MnT (up 3% on monthly basis). The trades in the domestic market remained on the lower side for the month amid lockdown.
On a yearly basis too, the shipment fell 49% as compared to 2.7 MnT in Apr’19.
| NMDC | Production | Sales | ||||
| Apr’20 | Mar’20 | Apr’19 | Apr’20 | Mar’20 | Apr’19 | |
| Chhattisgarh | 1.31 | 2.6 | 2.21 | 1.08 | 2.41 | 2.18 |
| Karnataka | 0.49 | 0.16 | 0.69 | 0.3 | 0.29 | 0.52 |
| Total | 1.80 | 2.76 | 2.9 | 1.38 | 2.7 | 2.7 |
Source-: BSE filings, SteelMint Research
Qty in MnT
Leave a Reply