Bhushan Steel – a major integrated steel maker has sharply increased its monthly iron ore & pellet sourcing in Oct’17.The company’s iron ore and pellet sourcing increased by 40% M-o-M to 0.51 MnT in Oct’17 against 0.36 MnT in Sept’17.
Iron ore sourcing up by 43% M-o-M
Iron ore procurement by Bhushan steel increased 43% M-o-M to 0.46 MnT against 0.32 MnT in Sept’17. Out of total procurement OMC was the highest supplier to Bhushan steel with 0.12 MnT followed by Indrani Patnaik 0.09 MnT and Serajuddin 0.09 MnT. Procurement from Rungta mines rose sharply nine times to 0.07 MnT in Oct’17 and KJS Ahluwalia also increased its supply almost three times to 0.03 MnT in Oct’17 against 0.01 MnT in Sept’17.
Bhushan steel’s pellet procurement from JSPL increased-: JSPL (Jindal Steel and Power)continued to supply pellet rakes to Bhushan steel. It’s pellet sourcing increased by 18% to 13 rakes in Oct’17 against 11 rakes in Sep’17.
Bhushan Steel’s iron ore & pellet sourcing: Oct’17 Vs Sept’17
| Bhushan Steel Iron Ore Sourcing | ||
| Miners | Oct-17 | Sep-17 |
| OMC | 124,282 | 120,311 |
| Indrani Patnaik | 96,235 | 76,988 |
| Serajuddin | 93,045 | 38,538 |
| Rungta Mines | 65,175 | 7,700 |
| KJS Ahluwalia | 34,273 | 11,839 |
| Mid East Integrated Steel | 30,750 | 38,401 |
| A.M.T.C | 6,894 | 2,103 |
| SN Mohanty | 4,817 | 23,466 |
| Total | 455,471 | 319,345 |
| Pellet Sourcing | ||
| Pellet Plant | Oct-17 | Sep-17 |
| Jindal Steel & Power Ltd | 50,050 | 42,350 |
| Total | 50,050 | 42,350 |
| Grand Total | 505,521 | 361,695 |
Source: SteelMint Research
Quantity in MT
Provisional Data
Bhushan Steel’s Q2 FY18 net loss narrows down – Bhushan Steel in its reported quarterly results reported a standalone net loss of INR 467.37 crores in Q2 FY18 against the net loss of INR 980.22 crore reported in Q2 FY17..The company is undergoing insolvency proceedings.
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