India: NMDC’s iron ore production hits nearly 2-year low in May’24

  • NMDC recorded its output at 2.34 mnt in May’24, a decrease of 33% m-o-m as against 3.48 mnt in Apr’24. Volumes fell lowest since Jul’22.
  • Iron ore sales also dropped by 20% m-o-m to 2.82 mnt in May’24 as against 3.53 mnt in Apr’24.
  • Meanwhile, cumulative production volumes decreased by 19% y-o-y to 5.82 mnt in Apr-May’24 over 7.22 mnt in the same period last year.