NMDC's iron ore output jumps 20% YoY in May

National Mineral Development Corporation Limited (NMDC), India's largest state-owned iron ore producer, reported its iron ore production in May at 5.31 million tonnes, up by 14.4% on month and 19.9% on year, the company's latest monthly production and sales report showed.

While the miner's sales during last month also rose 9.8% on month to 4.04 million tonnes, they were 6.9% lower compared with May last year. The sharp rise in monthly production, coupled with shrinking sales, pointed to a possible buildup of inventory at the mines, some market pundits suggested. During April-May,