Motilal Oswal: NMDC’s Iron Ore Price Hike Aids Volume Growth

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.NMDC Ltd. has cumulatively raised iron ore prices by Rs 400/tonne over July-August on improving volumes (up 7% YoY to 2.57 metric tonne in July 2020) on improving demand from steel plants as domestic demand improves.This, coupled with higher international iron ore prices, has enabled NMDC to raise prices this month by Rs 200/tonne (approximately 9%) to Rs 2,360/2,650 per tonne for fines/lumps. This price increase follows NMDC’s price hike of Rs 200/tonne in July 2020.We believe NMDC’s iron ore prices should sustain in H2 FY21 due to rising steel prices (up approximately Rs 2,000/tonne month on month), higher pellet prices (up 20% MoM to Rs 7,200/tonne), and reduced iron ore supply from Odisha mines. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: NMDC’s Iron Ore Price Hike Aids Volume Growth

Motilal Oswal: NMDC’s Iron Ore Price Hike Aids Volume Growth

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