Bhushan Steel – a major integrated steel maker with a capacity of 5.6 MnT has recorded iron ore & pellet sourcing at 0.32 MnT in June’18. The sourcing witnessed decline of 35% as against sourcing in May’18 at 0.49 MnT.
Bhushan Steel’s Iron Ore Procurement down 34% in June’18 –
Bhushan Steel iron ore procurement in June’18 witnessed at 0.32 MnT, decrease of 34% M-o-M as against 0.48 MnT in May’18. OMC stood the largest supplier at 0.12 MnT, contributing 39% of total sourcing by the company (down 33% M-o-M). Serajuddin remained the second largest supplier at 0.08 MnT (down 45% M-o-M).
RP Sao and SN Mohanty recorded significant increase in June’18 supplies at 0.05 MnT(up by ten folds M-o-M) and 0.01 MnT (up by more than two folds on monthly basis) respectively.
Bhushan Steel Iron Ore Procurement down 10% in Q1 FY’19
For first quarter FY’19, the company recorded iron ore procurement at 1.16 MnT , down 10% as compared to 1.29 MnT in Q4 FY’18. In Q1 FY’19, OMC stood the largest supplier at 0.44 MnT (down 8% Q-o-Q) followed by Serajuddin at 0.30 MnT (up twice on monthly basis).
| Iron Ore Mines | June’18 | May’18 | M-o-M (%) | Q1 FY19 | Q4 FY18 | Q-o-Q (%) |
| OMC | 123,095 | 182,854 | -33% | 435,247 | 474,823 | -8% |
| Serajuddin | 78,570 | 142,502 | -45% | 297,315 | 143,204 | 108% |
| RP Sao | 54,160 | 5,197 | 942% | 59,357 | – | 100% |
| A.M.T.C | 25,665 | 36,139 | -29% | 126,812 | 124,276 | 2% |
| Indrani Patnaik | 17,598 | 76,837 | -77% | 140,449 | 141,860 | -1% |
| SN Mohanty | 13,779 | 6,203 | 122% | 19,982 | 34,665 | -42% |
| Rungta Mines | 3,808 | 7,700 | -51% | 57,693 | 147,475 | -61% |
| KJS Ahluwalia | – | 19,205 | -100% | 23,048 | 192,846 | -88% |
| Others | – | – | – | – | 27,900 | -100% |
| Grand Total | 316,674 | 476,637 | -34% | 1,159,903 | 1,287,050 | -10% |
Source: SteelMint Research
Quantity in MT
Provisional Data
Bhushan Steel’s pellet procurement from JSPL recorded nil in June’18:
Bhushan steel procured pellet from Arya Iron & Steel for the month of June’18. The Company sourced 1 rake in June’18 against 4 rakes a month before.
Pellet procurement from JSPL stood nil in June’18, against being 4 rakes in May’18.
| Pellet Plant | June’18 | May’18 |
| Arya Iron & Steel | 3,850 | 0 |
| JSPL | 0 | 15,400 |
| Total | 3,850 | 15,400 |
Source: SteelMint Research
Quantity in MT
Provisional Data
Bhushan Steel was one of the companies underwent Bankruptcy proceedings. In May’18, NCLT (National Company Law Tribunal) finally gave its approval to Tata Steel’s resolution plan of acquiring debt-ridden Bhushan Steel under the Insolvency and Bankruptcy Code (IBC).
Bhushan Steel to source iron ore from Tata Steel’s captive iron ore mines – Recently, Tata Steel has got approval from Odisha government to sell iron ore to Bhushan Steel from its captive Khandabandh mine, which is expected to enhance sourcing by the company in upcoming months. Presently the mines is supplying ore to Tata steel’s Kalinganagar plant.
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