Page 2 - Iron Ore

Steel softens sharply on subdued demand outlook, rising iron ore output

Futures prices of steel on National Commodity & Derivatives Exchange Limited (NCDEX) have softened significantly in the past one to one-and-a-half month period.

Cargo handling by Essar Vizag port up by 10% YoY to 1.3 mn tonnes in Apr

Surge in traffic marks the uptick in Indian steel sector, a major contributor to India's manufacturing output

Analysts bullish on auto stocks amid govt. measures on fuel, steel price

At the operational level, Nomura sees margin benefit for companies in the backdrop of a cut in steel prices

Indian iron ore and steel stocks slump, autos rise after export tax hikes

The Nifty metals index fell as much as 8.9% on Monday, the fastest rate of decline since March 2020, while the Nifty auto index rose 2.9%

Supreme Court allows export of iron ore from key mines in Karnataka

Order allows direct sales as opposed to e-auctions only; three-judge bench asks mining firms to comply with Centre's rules on the matter

Karnataka mining: SC permits firms to export excavated iron ores

The Supreme Court on Friday permitted mining firms to export their excavated iron ore from mines in districts of Ballari, Chitradurga, and Tumakuru in Karnataka.

NMDC's iron ore production rises 23% YoY to 42.15 MT in FY 2022

NMDC, the country's largest iron ore producer, said on Saturday its production increased by 23 per cent year-on-year to reach 42.15 million tonnes (MT) in FY22

SC asks Centre to clear stand on export of iron ore in Karnataka

The Supreme Court on Wednesday asked the Centre and the Karnataka government to clear stand on export of extracted iron ore in the state saying either it has to be consumed or sold. A bench headed by Chief Justice N V Ramana asked Solicitor General Tushar Mehta to seek instructions on the issue and file response by April 8. The top also directed the Central Empowered Committee, appointed by SC, and the monitoring committee to submit a status report indicating the approximate available quantity of iron ore on ground. "There is no meaning of keeping extracted iron on the ground. Either it has to be consumed, sold or taken off the ground. Let us first clear the ground then we will see what to do. By virtue of that, the state government and development fund may get some money," said the bench, also comprising Justices Krishna Murari and Hima Kohli. The apex court had earlier refused to lift the ban on export of iron ore pellets from Karnataka-based miners. While private miners had .

NMDC's iron ore output grows 13% in Jan-Feb '22; sales up by 17%

State-owned mining giant NMDC has produced 8.87 million tonnes (MT) of iron ore during January-February 2022, a year-on-year rise of about 13 per cent. According to company data, NMDC had produced 7.72 MT of iron ore during the first two months of 2021. During the period under review, the country's largest iron ore miner saw its sales growing 17 per cent to 8.21 MT, from 6.99 MT in January-February 2021. Hyderabad-headquartered NMDC, under the Ministry of Steel, is the country's largest iron ore mining company with mines in states including Karnataka and Chhattisgarh. Iron ore is a key steel making raw material. NMDC is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum. The company recently conducted an e-auction of an 8,337-carat rough diamond produced at its Panna diamond mines in Madhya Pradesh.

Iron ore spikes, but China intervention fears weigh

Dalian and Singapore iron ore futures advanced on Wednesday, reflecting optimism about demand prospects for steel products and raw materials in China, but concerns about China intervention weighed.

NMDC net profit jumps 122% in first nine months of FY22

The government-run NMDC registered a turnover of Rs 19,179 crore for the first nine months of the financial year 2021-22

China iron ore futures drop on worries over local Omicron variant cases

The most traded iron ore futures on the Dalian Commodity Exchange, for May delivery, dropped 2.2per cent to 698 yuan ($109.52) per tonne as of 0256 GMT

Iron ore rises on hopes of China demand pick-up after Beijing Olympics

Iron ore futures rose on Thursday, on expectations of a recovery in Chinese demand for the steelmaking raw material after the Beijing 2022 Olympics next month

SC to hear on Jan 15 PIL alleging duty evasion in exporting iron ore

A bench comprising Chief Justice N V Ramana and Justices Surya Kant and Hima Kohli was told by the petitioner that the PIL on the issue had not been listed despite the assurance of the bench on Dec 9

Base metals shine in wild 2021 as gold falters, iron ore sinks

Gold bulls were ultimately left disappointed even as inflation raged

India's Apr-Oct iron ore production at 143 MT; set to surpass FY'20 record

India is all set to surpass the record production of 246 MT achieved in 2019-20, Mines Secretary Alok Tandon said

Weak outlook emerges for NMDC as strong steel cycle appears to have peaked

Most analysts have a hold rating on the stock of India's largest iron ore mining company

NMDC slashes lump ore prices by Rs 750 per tonne, fines by Rs 200 per tonne

Iron ore is the key steel making raw material. A change in its prices has a direct impact on the rates of steel

Vedanta's Sesa Goa iron ore biz pledges to become carbon neutral by 2050

In line with the country's larger vision of net zero carbon economy, the company has devised a comprehensive plan to achieve this goal, the company said in a statement

China iron ore futures surge on hopes of resuming steel production

Spot prices of iron ore with 62% iron content for delivery to China rose $4 to $95.5 a tonne on Monday