Iron Prices

State-owned NMDC has reported a 15 per cent rise in its iron ore production and 3 per cent growth in sales of the mineral in April. In a statement on Sunday, NMDC said it produced 4 million tonnes (MnT) iron ore in April, higher from 3.48 MnT in same month last year. NMDC sold 3.63 MnT iron ore last month, up from 3.53 MnT in April 2024. NMDC CMD Amitava Mukherjee said, "Our record-breaking April performance, coupled with best-ever despatch figures from our major iron ore mines -- Kirandul, Bacheli, and Donimalai -- with a growth of 12 per cent, 4 per cent and 88 per cent, respectively over CPLY solidifies our leadership position and sets a strong foundation for achieving our ambitious target of becoming 100 MT mining company by 2030." The company's pellet production soared to an all-time high of 0.23 lakh tonnes, surpassing the previous April record set in 2018. Under the Ministry of Mines, NMDC is India's largest iron ore producing entity. Meanwhile, NMDC Steel Limited (NSL), a

State-owned NMDC on Saturday said that it has registered a 17.8 per cent increase in iron ore production at 4.62 million tonnes (MT) in February. The company had produced 3.92 MT of iron ore in the corresponding month of previous fiscal year, NMDC said in a filing to BSE. The company said that the figures are provisional. The iron ore production in the April-February period rose to 40.49 MT over 40.24 MT in the year-ago period, the filing said. The sale of iron ore in February was at 3.98 MT, over 3.99 MT in February last fiscal. Hyderabad-based NMDC, under Ministry of Steel, is the country's largest iron ore mining company. The PSU alone caters around 20 per cent to the country's demand for the key steel-making raw material. Since inception, the company has been involved in the exploration of a wide range of minerals including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others in some of the most remote corners of the country.

Thus far in the month of August, shares of Jai Balaji Industries have rallied 58 per cent

In a regulatory filing, the company said it has fixed the prices of per tonne lump ore at Rs 6,100 and that of fines at Rs 5,160 a tonne

While weak demand growth in domestic market saw larger players resorting to exports to cushion the Covid impact of the past 14-16 months, smaller players languished, the rating agency said

An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage

All other base metals, fell by up to 12.3 per cent in 2019. Steel was almost flat, while thermal coal and natural gas were also among big losers.

Unlike integrated steel plants which use iron ore fines, pellets and lumps to produce steel, sponge iron makers in India mostly use ore lumps in their Direct-Reduced Iron (DRI) furnaces