India: NMDC Iron Ore Rake Movement Falls 28% in Jul'19 amid Monsoon

NMDC supplied 18 rakes (0.07 MnT) to state-based units in Jul’19, down 51% against 37 rakes (0.14 MnT) a month before. Owing to seasonal effect (monsoon) dispatches from the mines were down and also it resulted in increased loading time. Another reason was plunge in domestic sponge and billet prices amid weak market fundamentals. NMDC’s supply to outside state-based units fell 27%-: The procurement by units outside C.G also witnessed a decline of 27% on monthly basis to 165 rakes (0.64MnT) in Jul'19 as against 226 rakes (0.87 MnT) in Jun'19. JSW Steel (Dolvi) sourcing from NMDC recorded at 36 rakes in Jul'19, against 28 rakes a month before. RINL procurement from NMDC Bailadila mines in Jul'19 down 42% on monthly basis to 85 rakes as compared to Jun'19 procurement at 146 rakes. KIOCL procured 35 rakes in Jul’19 compared to 34 iron ore rakes from NMDC in Jun'19. Movement for exports fall 17% in Jul'19-: NMDC’s movement of iron ore export for the month of Jul’19 witnessed 17% declined to 39 rakes as compared to 47 rakes in Jun’19. source: SteelMint

India: NMDC Iron Ore Rake Movement Falls 28% in Jul'19 amid Monsoon

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