NMDC July iron ore dispatches down 3% YoY, output up 20%, says source
Informist, Tuesday, Aug 1, 2023
–Source: NMDC Apr-Jul iron ore output about 13 mln tn, up 20% on yr
–Source: NMDC Apr-Jul iron ore dispatches about 14 mln tn, up 31% YoY
–Source: NMDC Jul iron ore output about 2.5 mln tn, up 20% on yr
–Source: NMDC Jul iron ore dispatches near 3 mln tn, down 3% on year
By Narayana Krishna
HYDERABAD – NMDC Ltd's iron ore dispatches in July fell 3% on year to around 3 mln tn, while output for the month rose 20% on year to about 2.5 mln tn, a source told Informist.
Besides subdued demand, seasonal rains have affected the state-owned iron ore company's performance in July, according to the source.
On a cumulative basis, NMDC's Apr-Jul iron ore dispatches rose around 31% on year to about 14 mln tn, while output was rose 20% on year to around 13 mln tn, the source said.
NMDC has mining operations in Chhattisgarh and Karnataka. The company aims to sell 45 mln tn of iron ore in the current financial year and is eyeing a similar quantity in terms of output.
At 1314 IST, shares of NMDC were at 117.10 rupees, down 0.2%, on National Stock Exchange. End
