Moneycontrol
Last Updated : Jan 03, 2018 11:32 AM IST | Source: CNBC-TV18

Margin may improve by 300-400 bps owing to strong demand & price hikes: NMDC

NMDC has taken a steep increase in prices of fines and lumps, taking prices to nearly three year highs. In an interview to CNBC-TV18, TRK Rao, Director-Commercial at NMDC spoke at length about the same.

CNBC TV18 @moneycontrolcom

NMDC has taken a steep increase in prices of fines and lumps, taking prices to nearly three year highs. In an interview to CNBC-TV18, TRK Rao, Director-Commercial at NMDC spoke at length about the same.

Rao said we have hiked prices owing to strong demand from steel industry. We saw 16 percent growth in steel production this year.

He further said that prices of all end used products have gone up substantially in domestic industry.

Globally also there has been upsurge in hot rolled (HR) coil prices, he added.

On business front, he said we expect sales volume of minimum 11 million tonne for FY18 and the overall year will end with 36 million tonne.

Our primary focus now is on commissioning Nagarnar steel plant by September 2018, said Rao.

Various issues need to be ironed out before divestment of Nagarnar steel plant, he mentioned.

Talking about margins, he said margin may improve by 300-400 bps owing to strong demand and price hikes.

Watch accompanying video for more details.
First Published on Jan 3, 2018 11:15 am

tags #Business

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