Government-owned National Mineral Development Corporation (NMDC) recorded 425 iron ore rake movements from Chhattisgarh in January 2023, rising by 9% against 390 in December 2022, according to data maintained with SteelMint.
This figure includes movements within Chhattisgarh and to other state-based units but excludes supply to AM/NS India through slurry pipeline. Notably, a rake carries 3,850 tonnes (t) of iron ore.
RINL top buyer: Rashtriya Ispat Nigam Ltd (RINL) emerged as the largest buyer, with 153 iron ore rakes received in January, 2023, up 13% as against 136 in December.
JSW Steel recorded a 11% decrease in receipt of iron ore rakes from NMDC Chhattisgarh at 109 in January, 2023 as against 123 in December, 2022.
South India-based pellets maker, Kudremukh Iron Ore Company Limited’s ( KIOCL’s) iron ore sourcing stood at 52 rakes in January compared with 35 in December. Indian pellets export trades gained momentum post removal of 45% duty, supported by the recent recovery in global iron ore prices.
NMDC’s total iron ore rake movements to plants based outside Chhattisgarh were recorded at 346 last month compared to 327 in December.
Sourcing by Chhattisgarh-based units increases: NMDC’s iron ore rake movements to Chhattisgarh-based units were recorded at 79 in January 2023 compared to 63 in the previous month. The company has raised prices of lump ores by up to INR 300/t and fines by INR 500/t, effective from 28 January, 2023.
Zero exports: NMDC’s long-term iron ore export contracts with Japanese steel mills (JSMs) and South Korea’s POSCO were scrapped as the key sop of 10% reduction in export duty was removed.
NMDC’s (Chhattisgarh) iron ore rake movement: Dec’22 vs Jan’23
Figs. exclude ArcelorMittal Nippon Steel India Limited’s movement through slurry pipeline.
Each rake carries approximately 3,850 t of iron ore
Source: SteelMint Research, Railways
Leave a Reply