16
Feb
08:37
NMDC December-quarter revenue falls amid slowed demand
Indian state-run miner NMDC saw production inch up 0.13% on-year to 10.66 million tonnes in the December quarter. The company’s sales, however, dropped 3% to 9.58mt on the back of slowing sentiment that prevailed during the imposition of export duties in the nation.
Slowed sales, coupled with low sales realisation of INR 3,821/tonne ($46.23) in the December quarter versus INR 5,914/t ($71.55) the previous year, impacted the company’s earnings.
NMDC&rs…
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Very good overview of the weekly steel market.
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