India’s largest iron ore miner, NMDC, reported a 37% decline in May 2024 production to 2.34 million tonnes (MnT), down from 3.71 MnT in May 2023. Sales also fell by 22% to 2.82 MnT from 3.62 MnT year-on-year. Cumulative output for April-May 2024 decreased to 5.82 MnT from 7.22 MnT in the same period last year, with sales dropping to 6.35 MnT from 7.05 MnT. Despite the slump, NMDC raised lump ore prices by ₹250 per tonne and fines by ₹350 per tonne, setting new prices at ₹6,450/tonne and ₹5,610/tonne, respectively. NMDC, based in Hyderabad and under the Ministry of Steel, supplies around 20% of India’s iron ore demand.