HYDERABAD: National miner National Mineral Development Corporation (NMDC) on Thursday clarified that the organisation is scaling up production of iron ore only to meet the demands of the thriving domestic steel market.
NMDC refuted the claims of an international media organisation that on Tuesday reported that the NMDC was proposing to export its ore to China. The company maintained that India’s appetite for iron ore is at a historic high and the NMDC is consumed and committed to catering for the domestic demand.
Speaking on exports, the NMDC said that even though iron ore export prices are showing an increasing trend, the net sales realisations in the domestic market are superior.