Data: SHFE, DCE market movement (Jun 23)

Indian state-owned miner NMDC Limited has awarded a $317 million (Rs 2,977 crore) contract to Rail Vikas Nigam Limited (RVNL) to construct an iron ore buffer stockyard and blending facility at the Visakhapatnam port. The facility features a designed material handling capacity of 10 million metric tons per annum (MTPA) and is scheduled to be completed and commissioned within 42 months. Strategically, this project will enable NMDC to pioneer India's first branded, fixed-specification blended iron ore, which is expected to command a market premium by substantially improving blast furnace efficiency for steelmakers. This infrastructure upgrade is a vital step in NMDC's broader expansion roadmap, supporting the company's target to nearly double its total iron ore mining capacity from a record 53.15 million mt in FY2026 to 100 million mt by 2030, thereby reinforcing both domestic and global supply chain stability.

Nippon Steel has submitted plans to Slovak authorities to build an electric arc furnace at its Košice steelworks, with annual capacity estimated at 1.5–2.1 million tonnes. The project would replace part of the site’s coal-based production with lower-emission technology, while total steelmaking capacity is expected to remain at 4.5 million tonnes per year. Construction may start in 2027, with operations targeted for 2030.

India’s state-run miner NMDC awarded RVNL a contract worth around 317 million USD to build an iron ore buffer stockyard and blending facility at Visakhapatnam port. The project will have a material handling capacity of 10 million tonnes per year and is scheduled for completion within 42 months. Once operational, the facility should improve NMDC’s inventory control, blending capability and raw material logistics efficiency.