Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s National Mineral Development Corporation’s (NMDC) iron ore production rose by 12.9pc in July to 2.19mn from prior July as Indian steelmakers ramped-up production. Iron ore sales increased by 6.64pc to 2.57mn mt from the prior July.


In July, primary and secondary steel producers across India increased their capacity utilization following a recovery in the domestic steel demand.


JSW Steel’s Vijayanagar plant, which was impacted by the COVID-19 pandemic in June, increased production to reach utilization level of 88pc in July. Arcelor Mittal/ Nippon Steel India has ramped up to full capacity at its Hazira plant in Gujarat.


NMDC’s Chhattisgarh unit accounted for 71pc iron ore production at 1.56mn mt and Karnataka contributed 29pc at 0.63mn mt production in July.


Iron ore prices up by Rs200/mt 

NMDC has raised iron prices for both lumps and fines by about Rs200/mt, effective July 31. Iron ore fines will be priced at Rs2,360/mt and lumps at Rs2,650/mt, according to a company release. These revised prices exclude royalty, permit fee and other taxes.


Sumit Deb assumes charge as CMD  

Sumit Deb takes charge as Chairman, Managing Director (CMD) of NMDC Limited on August 1. He brings with him vast experience from his tenure in RINL and NMDC.

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