Steel Exchange India has signed a four-year Memorandum of Understanding with NMDC to establish a long-term supply arrangement for iron ore fines. According to The Financial Express, this strategic agreement is designed to support the company's increased rebar production output while simultaneously expanding overall production capacity and reducing operational costs. The MoU represents a significant step in securing raw material availability for the Indian steelmaker, addressing supply chain stability in a critical input for steel manufacturing.
By establishing a long-term procurement arrangement, Steel Exchange India aims to optimize its production efficiency and cost structure across its operations. The agreement comes as Indian steel producers continue to strengthen their supply chains and improve operational economics amid competitive market pressures. NMDC, India's premier iron ore producer, plays a crucial role in supporting domestic steelmakers through such strategic partnerships.
Source: The Financial Express, September 9, 2026
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