India: NMDC Iron Ore Sales Up 7% M-o-M in Nov'19

NMDC's total iron ore sales recorded at 2.79 MnT for the month of Nov'19, up 7% as compared to 2.61 MnT in Oct'19. It registered rise in iron ore sales from Chhattisgarh mines at 2.23 MnT, up 10% against 2.02 MnT in Oct '19. The increase in sales is attributed to price drop announced by the miner towards mid of Nov'19. Prices of iron ore fines and lumps reduced by INR 100/MT and in DR-CLO price cut by INR 120/MT and ROM by INR 90/MT.

Sales from Karnataka mines depicted 5% fall to 0.56 MnT. On yearly basis, total iron ore sales stood stable at 2.79 MnT.

NMDC iron ore production increased by 18% in Nov'19

NMDC registered 18% increase in production for the month of Nov'19 to 2.94 MnT as against 2.49 MnT a month ago. Production from Chhattisgarh mines picked up significantly by 24% M-o-M to 2.4 MnT, while it fell by 4% from Karnataka mines to 0.54 MnT. On yearly basis, production fell 11% as compared to 3.29 MnT in Nov'18.

Source-: BSE filings, SteelMint Research
Qty in MnT