Vedanta's realisations from iron ore fall 20.6% over fragile demand

Metals & mining conglomerate Vedanta Ltd recorded a fall of 20.6 per cent in realisations from its iron ore operations in FY18, weighed down by fragile demand for its ore in export markets.

Vedanta's average net sales realisations from iron ore vertical slid to $26.1 per tonne in FY18 from $32.9 in 2016-17.

In last fiscal, Vedanta's Goa iron ore sales plummeted to 5.4 million tonnes (mt) from 7.4 mt in the preceding year, shrinking 37 per cent. Production, too, went downhill in the coastal state, going down from 8.8 mt to 4.9 mt, a decrease of 44.3 per cent.