India: NMDC Iron Ore Rake Movement to Chhattisgarh Based Units Up 38% in Oct'19

NMDC (Chhattisgarh) supplied total 303 rakes (1.16 MnT) of iron ore in the month of Oct’19, up 59% against 190 rakes (0.73 MnT) a month before in Sept’19, according to railway movement data maintained with SteelMint.

Chhattisgarh based steel plants increased sourcing from NMDC (C.G.) by 38% from 29 rakes (equivalent to 112,000 MT) in Sep'19 to 40 rakes (155,000 MT) Oct’19 (This does not include movement through road).

On 19th Sep, NMDC Ltd announced cut in its iron ore prices. Prices of iron ore fines and lumps were reduced by INR 200/MT and in DR-CLO price cut was by INR 230/MT. Also easing iron ore production after monsoons resulted in improved production & dispatches.

NMDC’s supplies to outside state-based units increased sharply: The procurement by outside C.G based units also increased for the month by 57% in Oct’19 to 216 rakes (0.83 MnT) in Oct'19 as against 138 rakes (0.53 MnT) in Sept'19.

RINL’s procurement from NMDC Bailadila mines in Oct'19 increased 47% on monthly basis to 144 rakes as compared to Sept'19 procurement at 98 rakes.

JSW Steel (Dolvi) sourcing from NMDC recorded at 22 rakes in Oct'19, against 14 rakes a month before.

KIOCL sourcing from NMDC (C.G) increased by almost two-times to 39 rakes in Oct’19 against 20 rakes in Sept’19.

Movement for exports double in Oct'19: NMDC’s movement of iron ore export for the month of Oct’19 witnessed more than two-times to 47 rakes as compared to 23 rakes in Sept’19.