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Steel Exchange India inks pact with NMDC for long-term iron ore procurement
Sep-09-2026

Steel Exchange India has entered into a strategic Memorandum of Understanding (MoU) with NMDC, India’s premier government-owned iron ore producer. The MoU establishes a commercial and operational framework for the supply and procurement of consistent grade Iron Ore Fines (Fe 61-63% and above) sourced from NMDC's upcoming Buffer Stockpile & Blending Yard at Visakhapatnam, Andhra Pradesh. This agreement significantly enhances the company’s raw material security, providing direct conveyor, FOB, FOR, FOT, or Ex-Stockpile supply access to consistent grade iron ore right in its proximity.

Following the company's recent achievement of recording its highest-ever monthly Re-Bar output of 24,823.509 MT (driven by the operationalisation of its new Reheating Furnace), securing a steady stream of premium iron ore becomes paramount. The proximity of NMDC’s Visakhapatnam hub to the company’s integrated production facilities near Visakhapatnam yields substantial logistics cost advantages and operational agility. 

This strategic tie-up reinforces the company’s backward integration strategy, mitigating supply volatility and empowering it to consistently cater to growing infrastructure demand under its flagship SIMHADRI TMT brand. This MoU is expected to support the company’s expansion plans in the near future.

Steel Exchange India is India’s first online steel e-commerce portal established in 1999 and is dedicated to the Indian steel industry specifically and to steel as a whole.

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