NMDC: Steady steel demand, increasing iron ore volumes key growth drivers

The steel demand in India continues to grow and is expected to increase by 5 per cent in FY19

NMDC, the country’s largest iron ore producer, had to cut the price of its produce by Rs 100 a tonne from April 18, due to decline in international prices. The per tonne iron ore price, excluding China, has corrected from over $75 levels in end-February to sub-$65 by start of April on fears that the global tariff wars would impact steel and iron ore demands. 

China’s steel demand was also seen to be a bit weak. Consequently, NMDC, which had seen continued rise in prices of iron ore lumps and fines (up 34 per cent and 38 per cent respectively since