India: NMDC Rake Movement for Iron Ore Exports Increased Sharply in Apr’19
India's largest iron ore miner -NMDC export movement has increased sharply by almost five-fold in the month of Apr’19. According to rake movement data maintained with SteelMint, exports stood at 80 (0.31 MnT) rakes in Apr’19 as compared to 16 rakes (0.06 MnT) a month before.
It seems NMDC exports of iron ore has been increased significantly for the month of Apr’19 due to global shortage of raw material amidst Vale mishap in Brazil along with cyclone in Australia.
NMDC supplied a total of 374 rakes (1.64 MnT) of iron ore in Apr'19, down 12% on monthly basis, against 427 rakes (1.44 MnT) in Mar’19.
Procurement by C.G. based units mostly stable in Apr’19
Procurement of NMDC iron ore by Chhattisgarh based units remained mostly stable at 45 rakes in Apr'19 as against 48 rakes in Mar'19. The miner had cut prices of lump and fines by INR 150/MT for April deliveries.
NMDC’s iron ore movement to outside state-based units drop 31%
The procurement by units outside C.G has witnessed a decline of 31% on monthly basis to 249 rakes in Apr'19 as against 363 rakes in Mar'19.
JSW Steel (Dolvi) sourcing from NMDC recorded at 24 rakes in Apr'19, down 67% as against 73 rakes a month before. RINL’s procurement from NMDC Bailadila mines decreased on monthly basis to 168 rakes as compared to Mar'19 procurement at 201 rakes.
KIOCL has also decreased its sourcing sharply in Apr’19 to 37 rakes compared to 57 iron ore rakes from NMDC in Mar'19.
source: SteelMint
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