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

India’s National Mineral Development Corporation (NMDC) reported a 19.14pc increase in iron ore production in February 2021 to 3.86 mn mt as compare to the same month in 2020. Sales also rose by 11.68pc at 3.25 mn mt in the same period.


From April 2020 to February 2021, company’s iron ore production increased by 1.4pc to 29.52 mn mt and while sales were almost flat (up 0.8pc) at 9.15 mn mt in the same period. Of NMDC’s total production in this period, Chhattisgarh accounted for 76.5pc of the volume, contributing 22.57 mn mt while Karnataka produced 23.5pc to 6.95 mn mt in the same period last year.


International iron ore prices shot from $80/mt in April 2020 reached to around $175/mt on the last week of February 2021, touching a ten-year high. 

Leave a Reply

Your email address will not be published.