Hyderabad, 19 January 2024: National Miner NMDC is scaling up production of iron ore to meet the demands of a thriving domestic steel market, earning higher sales realizations with zilch export.
One of Government of India’s most respected and dependable companies, NMDC has not proposed to export its ore to China as dishonorably claimed in a story run by Reuters on Tuesday evening.
In recent interactions with business media, the company maintained that India’s appetite for iron ore is on a historic high and NMDC is consumed and committed, catering to the demand from domestic steelmakers. Speaking on the economics of export, the company said that even though iron ore export prices are showing an increasing trend, the net sales realizations in the domestic market are superior.
