The country's iron ore production rose by 3.5% to 236
million metric tonne (MMT) in FY 2024-25 (April-January) as compared to 228 MMT
in FY2023-24 (April-January). The production of iron ore was 274 MMT in FY
2023-24.
Production of manganese ore has risen by 11.1% to 3.0 MMT in
FY2024-25 (April-January) from 2.7 MMT during the corresponding period of
previous year. Production of Chromite has risen by 8.7% to 2.5 MMT in FY2024-25
(April- January) from 2.3 MMT during the corresponding period of previous year.
Additionally, production of bauxite has also risen by 5.6% to 20.6 MMT in
FY2024-25 (April- January) from 19.5 MMT in FY2023-24 (April- January).
In the non-ferrous metal sector, primary aluminum production
in FY2024-25 (April-January) posted a growth of 1.2% over the corresponding
period last year, increasing to 35.10 lakh ton (LT) in FY2024-25
(April-January) from 34.67 LT in FY2023-24 (April-January). During the same
comparative period, refined copper production has grown by 7.4% from 4.19 LT to
4.50 LT.
India is the 2nd largest Aluminum producer, among top-10 producer in refined copper and 4th largest iron ore producer in the world. Continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry viz. steel. Coupled with growth in aluminum and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery.
Source: Ace Equity
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