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In the first half of 2026, iron ore production in India showed rapid growth, rising by 17% compared with the same period last year to 184 million tonnes. This is according to data from BigMint.
The main factor behind this growth was the expansion of operational capacity by the country’s two largest mining companies — the National Mineral Development Corporation (NMDC) and the Odisha Mining Corporation (OMC). Furthermore, the rapid development of deposits and the commissioning of new facilities led to an exponential 176% increase in production by Lloyds Metals and Energy Limited (LMEL).
As a result, commercial production volumes in the first half of the year rose by 25% – to 115 million tonnes, whilst production by domestic producers (for the internal needs of steelworks) increased by only 5%, totalling 69 million tonnes. Ore production figures outpaced the growth rate of steel production, which increased by 7% (to 87 million tonnes). This reflects a dramatic reversal of the trend compared with the first half of 2025, when ore production lagged behind the metallurgical sector.
The growth in ore production was driven by a revival in the domestic steel sector: pellet output rose by 14% (to 63 million tonnes), whilst sponge iron output increased by 6%. Favourable domestic price conditions (which rose by over 10% — to an average of 5,600 rupees per tonne of fine ore in the state of Odisha) significantly improved business margins.
Exports provided a further boost, rising by 24% against a backdrop of stable demand from China and a weaker rupee.
Despite domestic growth, iron ore imports into India rose by 33% to 4.95 million tonnes, indicating a shortage of high-quality raw materials and logistical problems within the country.
As reported by GMK Center, India could increase its iron ore production by almost 8% year-on-year in the 2026/2027 financial year – to 340–345 million tonnes from 316 million tonnes in the previous period. The increase in production will be driven by the expansion of mining capacity, primarily by private operators, whilst growth in steel production remains moderate. Consequently, supply is likely to be absorbed into stockpiles or require redirection to export markets. This is creating early pressure on the domestic market balance.
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