India: CG Based Units Increased Iron Ore Procurement from NMDC by 24% in May

NMDC supplied total of 400 ( 1.54 MnT) rakes of iron ore for the month of May’19, up 7% against 374 (1.44 MnT) rakes a month before in Apr’19, according to railway movement data maintained with SteelMint.

NMDC supplied 56 rakes to state based units, up 24% against 45 rakes a month before. The supplies picked up amid roll over in prices by the miner for May'19 deliveries and comparatively hike in domestic pellet offers. Domestic pellet offers in Raipur are hovering at 3-month high owing to which many sponge makers are learned to have shifted to iron ore.

The procurement by units outside C.G has witnessed 18% rise on monthly basis to 295 rakes in May'19 as against 249 rakes in Apr'19.

JSW Steel, Dolvi iron ore procurement doubled in May'19

JSW Steel (Dolvi) sourcing from NMDC recorded at 50 rakes in May'19, up almost more than twice as against 24 rakes a month before.

RINL procurement from NMDC Bailadila mines in May'19 picked up 8% on monthly basis to 182 rakes as compared to Apr'19 procurement at 168 rakes.

KIOCL has also increased its sourcing sharply in May'19 to 46 rakes compared to 37 iron ore rakes from NMDC in Apr'19.

Movement for exports fall 39% in May'19

NMDC’s movement for export of iron ore for the month of May’19 witnessed 39% fall to 49 rakes rakes as compared to 80 rakes in Apr’19. The exports dropped amid easing supply from Australian miner post cyclone affects.