The steelmaker procured 0.08 MnT iron ore from Odisha based miners in Aug’18, down 68% on monthly basis as against 0.26 MnT in Jul’18.
Major Odisha merchant miners had raised prices by INR 1,000-1,100/MT in both lump and fines via three price hikes made in end August to early September. Currently, Odisha iron ore prices trading at six years high.
JSW Steel – iron ore sourcing recorded increase in Aug’18. The total iron ore sourcing stood at 2.72 MnT, up 16% M-o-M as against 2.35 MnT in Jul’18. JSW Steel’s crude steel output stood at 1.44 MnT inched up by 5% in August against 1.37 MnT in the preceding month.
Sourcing from NMDC (C.G.) down 33% in Aug’18:-
JSW Steel (Dolvi) procured 12 rakes from NMDC Chhattisgarh mines in Aug’18, a decline of 33% as against 18 rakes in Jul’18 owing to monsoon.
NMDC had announced price revision and increased prices by INR 140-180/MT with effect from 10th July 2018.
JSW purchases from Karnataka surge by 61% in Aug’18:
JSW Steel’s iron ore purchases from Karnataka e-auctions increased sharply by 61% M-o-M to 1.21 MnT in Aug’18 compared to 0.75 MnT in Jul’18. Out of 1.21 MnT iron ore sourced by JSW, NMDC supplied 0.85 MnT in Aug’18. JSW Steel’s iron ore sourcing from private mines increased significantly almost three times to 0.36 MnT in Aug’18 as against 0.13 MnT in Jul’18.
NMDC had cut base prices in Karnataka e-auctions towards the end of July by INR 300/MT in fines and INR 100/MT in lumps.
JSW Steel Iron ore Imports Increased by 9% M-o-M in Aug:
JSW Steel- has recorded imports at 1.38 MnT, up by 9% M-o-M in Aug’18 as compared to 1.27 MnT in Jul’18. Out of the total imports in Aug’18, JSW imported 1.20 MnT from Australia and remaining 0.18 MnT from Brazil. The company imported 0.88 MnT iron ore at Krishnapatnam port while the remaining imports from Jaigarh port at 0.5 MnT.
Amidst increasing prices by Odisha miners and NMDC (C.G), JSW has increased dependence on imports.
Plant-wise iron ore sourcing pattern of JSW Steel: Aug’18 Vs July ’18
| States | Aug’18 | Jul’18 |
| JSW Steel (Vijayanagar) | 2.07 | 1.55 |
| Karnataka | 1.19 | 0.75 |
| Import | 0.88 | 0.74 |
| Odisha | – | 0.06 |
| JSW Steel (Dolvi Works) | 0.60 | 0.73 |
| Import | 0.50 | 0.53 |
| Odisha | 0.06 | 0.13 |
| Chhattisgarh | 0.05 | 0.07 |
| JSW Steel (Salem Works) | 0.05 | 0.07 |
| Odisha | 0.03 | 0.07 |
| Karnataka | 0.02 | – |
| Grand Total | 2.72 | 2.35 |
Source: SteelMint, GoK, Railways
Quantity in MnT
Provisional Data
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