3 Sept 2026 - SMM China Iron Ore Main Port Inventory

NMDC, India's biggest iron ore miner, is working to lift its production to 60 MT in FY27 to keep pace with growing domestic steel demand, which would be about 20% higher YoY after output crossed 50 MT in FY26 through existing mines and NCL assets, and remains on track for 100 MT by 2030-31 in line with the 300 MT national steelmaking capacity target, with environmental clearances applied for and bids invited for mine infrastructure. It also plans to start commercial thermal coal production in Q3 FY27 and sell about 1 MT this year, with coking coal output expected from FY28, and aims to earn at least 20% of its revenue from minerals other than iron ore by 2030.

India’s domestic sponge iron market has reached its highest level in two years, with prices continuing to rise to mid-September. The recent increase has been driven mainly by higher input costs, particularly thermal coal, while improving buying interest and some restocking have also supported the move.