Its 11MFY24 production is around 40.2 mt. In FY25, it could hit 50 mt and it may reach 55 mt by FY26. The PSU has capex plans for multiple projects, which should improve the product mix and augment capacity to 100 mt for FY30.
NMDC provisional volume numbers for Q4FY24 aggregate to 13.3 mt (down 6 per cent Y-o-Y but up 9 per cent Q-o-Q). It was impacted by lower production and offtake in Karnataka. The FY24 production and dispatch of 45.1mt and 44.8 mt respectively, fell short of guidance of 47-49 mt.
Downstream, the domestic steel industry could hit a crude steel capacity of 175 mt in FY24 with 82 per cent capacity utilisation. This translates to 282 mt of ore requirement in FY24, with NMDC holding 16 per cent market share. As crude steel capacity moves up to 300 mt by FY30, total ore demand would hit 435-445 mt. Hence, NMDC should not have concerns about demand for a long time.
Ore price dynamics
Denne historien er fra April 11, 2024-utgaven av Business Standard.
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Denne historien er fra April 11, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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