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

NMDC’s iron ore sales dropped by 25pc in March to 2.7mn mt from the prior-year period as steel producers across India shut production following the COVID-19 lockdown. In March, iron ore production plunged by 32pc to 2.76mn mt from a year ago.


Secondary steel producers (non-integrated steel mills) across India have temporarily halted production as the government imposed a nation-wide lockdown since March 24 to control the spread of COVID-19. Even primary producers like SAIL, Tata Steel, JSW Steel and Vizag Steel have scaled down their production or shuts units to match their output to lower steel demand in India and overseas.


In the Apr-Mar period, the company’s iron ore production declined marginally by 1.5pc to 31.88mn mt and sales also fall by 2.56pc to 31.53mn mt compared to the prior year period. Chhattisgarh accounted for 78pc of NMDC’s total production with 24.88mn mt and Karnataka contributed to the rest 28pc with 7mn mt in the Apr-Mar period.


Moreover, sales from the Chhattisgarh mines fell to 24.48mn mt in Apr-Mar period from 23.33mn mt in the prior year period. Sales from Karnataka mines stood at 7.05mn mt compared to 9.03mn mt in the prior year period.

Leave a Reply

Your email address will not be published.