NMDC Limited, an Indian state-owned mining company, reported that its iron ore sales volume reached 2.83 million tons in August this year, falling by 4.1% compared to the previous month and sliding by 2.7% from the same month a year ago, as the weak steel demand curbed the production, which dropped by 19% year on year to 2.48 million tons.

During the period from April to August, NMDC’s iron ore production was 13.45 million tons, down by 10.5% year on year, while sales reached 13.4 million tons, falling by 14.2% year on year.

NMDC aimed to produce 46-47 million tons of iron ore in the current fiscal year 2022-23, compared to 42 million tons in the previous fiscal year.