indias iron ore production rises just 0.5 percent in first-8-months of fiscal year even as crude steel outputs jumps 11 percent

India's iron ore production rose just 0.5% in the first eight months of the fiscal year while crude steel output jumped 11%. That widening gap between ore supply and steel demand tightens the domestic ore market, supports prices, and strengthens the case for faster mine expansions and auctions. Sponge iron, pellet and pig iron makers feel the squeeze directly, since they compete with the integrated mills for the same material. Unless ore output accelerates, input cost pressure across the ferrous chain will persist.