India: NMDC (C.G.) Iron Ore Rake Movement Fell 24% in Aug'19

NMDC (Chhattisgarh) supplied total of 169 rakes (0.65 MnT) of iron ore in the month of Aug’19, down 24% against 222 rakes (0.85 MnT) a month before in Jul’19, according to railway movement data maintained with SteelMint. Amid heavy rains, miner's iron ore production and dispatches were learned to have remained adversely impacted.

NMDC supplied 28 rakes (0.11 MnT) to state-based units in Aug’19, up 28% against 18 rakes (0.07 MnT) a month before.

On 21st Aug’19, NMDC had reduced Iron ore prices by INR 200/MT in both lumps and fines and by INR 230/MT in DR-CLO.

NMDC’s supply to outside state-based units fell 23% : The procurement by units outside C.G also witnessed a decline of 23% on monthly basis to 127 rakes (0.49 MnT) in Aug'19 as against 165 rakes (0.64 MnT) in Jul'19.

JSW Steel (Dolvi) sourcing from NMDC recorded at 13 rakes in Aug'19, against 36 rakes a month before.

RINL’s procurement from NMDC Bailadila mines in Aug'19 increased 6% on monthly basis to 90 rakes as compared to Jul'19 procurement at 85 rakes.

KIOCL procured 20 rakes in Aug’19 compared to 35 iron ore rakes from NMDC in Jul'19.

Movement for exports fall 64% in Aug'19 : NMDC’s movement of iron ore export for the month of Aug’19 witnessed 64% declined to 14 rakes as compared to 39 rakes in Jul’19.