NMDC Sees 13.8% Surge in September Iron Ore Sales Amid Strong Demand

3 Oct 2024 , 12:40 PM

NMDC Ltd, recognized as India’s largest iron ore producer, reported a significant increase in iron ore sales, rising by 13.8% in September 2024. The total sales reached 3.54 million tonnes (MT), compared to 3.11 MT during the same month last year, reflecting strong market demand.

Production for the same month also saw a slight uptick, with NMDC producing 3.04 MT of iron ore in September 2024, which is a marginal increase from 3.00 MT in September 2023, indicating improved operational efficiency.

The sales growth was mainly driven by the company’s operations in the Chhattisgarh sector, where iron ore sales surged to 2.32 MT in September 2024, up from 2.05 MT during the corresponding period last year.

The Karnataka sector also contributed positively to the overall sales figures, recording an increase to 1.22 MT in September 2024 from 1.06 MT in the same month of the previous year.

On a cumulative basis, for the financial year up to September 2024, NMDC achieved a total production of 17.47 MT, a decline from 19.56 MT produced during the same timeframe in 2023.

In terms of cumulative sales, the total reached 19.80 MT for the financial year, slightly lower than the 20.55 MT recorded in the previous year.

Despite experiencing a year-on-year decline in cumulative production and sales, NMDC’s robust monthly performance in September suggests strong operational capabilities and a steady recovery in market demand.