India: NMDC Iron Ore Export Increase Sharply in Nov'18
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India's largest iron ore miner - NMDC has recorded exports at 67 rakes (257,950 MT iron ore) in Nov'18, up sharply by 72% on monthly basis as against 39 rakes (150,150 MT) a month before. The miner resumed exports in Sep'18 after a gap of five months (since Mar'18). Amid delay in renewing of LTA for export and finalising export duty, export volumes were lower earlier this year. From the last two month iron ore export increased significantly by NMDC.
NMDC supplied a total of 330 rakes of iron ore in Nov'18, down 7% on monthly basis, against 355 rakes in Oct'18. NMDC C.G has announced iron ore price cut between INR 200-360/MT for Dec'18. Later in Nov'18, the miner had rolled over iron ore prices.
Procurement by C.G. based units decline sharply in Nov'18
Procurement of NMDC iron ore by Chhattisgarh based units decreased 62% to 22 rakes in Nov'18 as against being 58 rakes in Oct'18. Chhattisgarh based sponge price declined sharply owing to weak buying interest.
Procurement by outside C.G. based units decreased by 7%
The procurement by units outside C.G has witnessed a decline of 7% on monthly basis to 241 rakes in Nov'18 as against 258 rakes in Oct'18.
JSW Steel (Dolvi) sourcing from NMDC increased to 43 rakes in Nov'18, up 43% as against 30 rakes a month before. RINL procurement from NMDC Bailadila mines increased by 4% on monthly basis to 175 rakes as compared to Oct'18 procurement at 169 rakes.
KIOCL has decreased its sourcing sharply by 66% in Nov'18 to 17 rakes compared to 50 iron ore rakes from NMDC in Oct'18.
NMDC (C.G.) Iron ore rake movement: Nov'18 Vs. Oct '18
| Seller | Buyer | Nov'18 | Oct'18 |
| NMDC(CG) to Chhattisgarh based Plant | Godawari Power & Ispat Ltd. | 3 | 6 |
| Bhagwati Power Steel | 2 | 1 | |
| Monnet Ispat & Energy Ltd | 2 | 6 | |
| Shri Bajrang Power & Ispat | 2 | - | |
| Devi Iron & Power Ltd | 2 | 1 | |
| Vraj Metaliks Private Limited | 2 | - | |
| Shivalay Ispat & Power Pvt Ltd | 1 | - | |
| Real Ispat & Power Ltd | 1 | - | |
| Sarda Energy & Minerals Ltd | 1 | 4 | |
| Gopani Iron & Power Ltd. | 1 | 5 | |
| Shree Shyam Sponge & Power Ltd | 1 | - | |
| Hi Tech Power Steel | 1 | 1 | |
| Shri Nakoda Ispat Ltd | 1 | 2 | |
| Mahendra Sponge & Power Ltd | 1 | 2 | |
| Sambhv Sponge Power Pvt Ltd | 1 | - | |
| API Ispat & Power | - | 3 | |
| SM Sun Power Ltd | - | 1 | |
| Drolia Electrosteel Ltd | - | 1 | |
| Nutan Ispat & Power Ltd. | - | 1 | |
| Vaswani Industries | - | 1 | |
| Rama Udyog Pvt Ltd | - | 1 | |
| Gopal Sponge | - | 1 | |
| Grace Industries | - | 1 | |
| SKS Ispat | - | 4 | |
| Ghankun Steel Pvt. Ltd. | - | 2 | |
| Vandana Global Ltd | - | 6 | |
| Shilpy Steels Pvt Ltd | - | 1 | |
| Aarti Sponge & Power Ltd | - | 1 | |
| Jayaswal Neco Industries Ltd | - | 3 | |
| Niros Ispat | - | 2 | |
| Nova Iron & Steel | - | 1 | |
| Total | 22 | 58 | |
| NMDC(C.G.) to Other State | Rastriya Ispat Nigam Ltd | 175 | 169 |
| JSW Steel, Dolvi | 43 | 30 | |
| Kudremukh Iron Ore Company Ltd | 17 | 50 | |
| Noble Tech Industries Ltd. | 2 | 2 | |
| Maha Maya | 2 | 5 | |
| Public | 1 | - | |
| Akshara Industries Ltd | 1 | - | |
| Sunflag Iron & Steel Company Ltd | - | 1 | |
| Steel Exchange India Ltd | - | 1 | |
| Total | 241 | 258 | |
| Export | 67 | 39 | |
| Grand Total | 330 | 355 | |
Each rake carries approximately 3,850 MT iron ore
* Excluding Essar Steel's movement through slurry pipeline
Source: SteelMint Research, Railways
