NMDC: Analysts see improving volumes ahead as Karnataka issues resolve

Analysts see improving volumes, earnings growth ahead as Karnataka pricing issues resolve

The NMDC stock has continued trending down on the bourses with declining international iron ore prices over the last few months. 

However, there seems to be some respite ahead for the company as well as investors.

The ex-China iron ore prices, which stood at over $78 a tonne in early March, had declined to less than $64 a tonne by April and have remained range-bound thereafter. 

The declining international prices meant that NMDC also had to adjust prices of its produce. 

The lower Karnataka sales volumes made matters worse for NMDC, with steel manufacturers — such as JSW Steel —