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

State-owned National Mineral Development Corporation reported a rise in iron ore production by 21.83pc in May to 2.29mn mt from the prior-year period. Sales in the period increased 29.41pc to 3.3mn mt.


Cumulative iron ore production in April-May was up by 44.5pc to 5.91mn mt, while sales increased by 62.6pc to 6.39 mn.


Mines in Chattisgarh accounted for 68pc or 3.99mn mt of April-May production while the rest 32pc was produced by mines in Karnataka.


International iron ore prices have surged from $96/mt in May 2020, to reach an all-time high of $233/mt in May 2021. Prices have softened from these are now at $208/mt.

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