India: NMDC Iron Ore May Sales Up 85%, Output Up 27%

Source: SteelMint Jun 04, 2020 11:00

NMDC total iron ore sales for the month of May’20 recorded at 2.55 MnT, a significant rise of 85% as against 1.38 MnT in Apr’20. Out of the total, 73% of total sales contributed by Chhattisgarh at 1.85 MnT, up 71% M-o-M. The miner slashed iron ore fines and lump prices by INR 400/MT and DR CLO by INR 470/MT for the month of May'20, marking the 2nd significant consecutive price cut after Apr'20. In addition to it, amid nationwide lockdown, most of the steel mills in Chhattisgarh remained closed for the month of Apr’20 which resumed production in May'20, thus in turn increasing iron ore sales by the miner.

The total sales from Karnataka mines stood at 0.7 MnT, up against 0.3 MnT in Apr '20. The miner towards mid of the month had decreased its floor prices by around INR 300-400/MT in both lumps and fines from Karnataka mines. However, on a yearly basis, the sales fell by

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