NMDC’s iron ore rake movement from its Chhattisgarh mines to state-based steel units has picked up 21% to 52 rakes in June’20 (0.20 mn t) as against 43 rakes a month ago (0.17 mn t), as per railway movement data maintained with SteelMint.
NMDC had reduced iron ore prices by 17% each in April and May respectively and left prices unchanged in June which improved buying interest. In addition to it, mills improved their steel capacity utilization, resulting in increased iron ore procurement. The decline in sponge iron prices and high pellet offers, shifted steel mills interest towards NMDC iron ore for better cost effectiveness.
Leave a Reply