NMDC- India's largest iron ore mine production in Apr'19 recorded at 2.9 MnT down 28% as against 4.04 MnT in Mar'19. However on yearly basis production moved up up 20% as against 2.41 MnT in Apr'18. .
NMDC Apr'19 iron ore sales witnessed drop to 2.7 MnT as compared to 3.59 MnT in Mar'19. However, on yearly basis it has increased by 22% as against 2.22 MnT in Apr'18. NMDC had reduced prices for lumps and fines by INR 150/MT each at the beginning of April'19.
Iron ore operations are still on hold at NMDC's Donimalai mine, which had renewed lease on 3rd Nov'18 for the next 20 years. But the state govt. put the additional condition to pay 80% premium on iron ore sale value from Donimalai to the Karnataka state Govt. The case was filed in the high court and both the side had kept their conclusive remark in the High Court. Judgement is still awaited, no date has been revealed.
NMDC iron ore production cross 30 MnT mark in FY'19
NMDC - India's largest iron ore mine production in FY19 was recorded at 32.47 MnT despite multiple challenges like closure at Donimalai mines for 5 months, nil exports till Aug'18, highest rainfall in Bailadila sector and poor off take in Karnataka sector for first quarter. Iron ore sales during fiscal year FY'19 stood at 32.39 MnT for FY19. This is the third consecutive year in a row the company has crossed production and sales 30 MnT mark.
Pellet offers for this week increased sharply in the recently concluded deals. SteelMint’s assessment stands at INR 6,900-7,000/MT (ex-Raipur, GST extra) against last week’s assessment of INR 6,600/MT. Current prices are hovering at 3-month high.
Sponge iron market seems to remain strong, as per manufacturers in central & eastern India. Rising raw material prices & active demand are likely to keep Indian sponge iron prices supported, they added.
Indian steel prices remain slightly surge by INR 100-400/MT on improved inquiries from the domestic buyers. The mid sized mills have raised Billet prices by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron by INR 100-200/MT day on day in major markets.
SteelMint in conversation with market participants learned that Indian HRC import prices from Japan reported decline by USD 15-20/MT in recent booking for July shipments.
Department of Mines and Geology (Govt. of Karnataka) has floated the tender for auctioning of 4 iron ore blocks in Karnataka for its 4th phase.
Indian Silico Manganese Prices are under pressure due to various factors as it is highly dependent on the inventory level possessed by the producer and the region they are offering from and also the grade quality.