India: JSW Steel Iron Ore Sourcing Drops 33% in Oct’18

JSW Steel – India’s largest steel maker recorded iron ore sourcing at 1.52 MnT in Oct’18. The total sourcing witnessed fall of 33% M-o-M as against 2.29 MnT in Sep’18.

JSW sourcing from Odisha down 6% in Oct’18

The steelmaker procured 0.17 MnT iron ore from Odisha based miners in Oct’18, down by 6% as against 0.18 MnT in Sep’18.

Odisha based miners had increased prices consecutively in Aug’18 and in Sep’18 but later in Oct’18, the merchant miners were heard offering discounts over increased offers to stimulate buying interest.

Sourcing from NMDC (C.G.) up 58% in Oct’18

JSW Steel (Dolvi) procured 30 rakes from NMDC Chhattisgarh mines in Oct’18, rise of 58% as against 19 rakes in Sep’18.

JSW purchases from Karnataka dip 45% in Oct’18

JSW Steel’s iron ore purchases from Karnataka e-auctions stood at 0.72 MnT in Oct’18, down 45% M-o-M compared to 1.30 MnT in Sep’18.

Out of 0.72 MnT iron ore sourced by JSW, NMDC supplied 0.47 MnT (almost stable on monthly basis) and contributed around 65% of total JSW sourcing.Towards the end of Sept’18, NMDC raised base price by INR 350/MT in fines and INR 300/MT in lump.

JSW Steel’s iron ore sourcing from private mines have decreased significantly by more than three folds to 0.25 MnT in Oct’18 as against 0.82 MnT in Sept’18.

JSW Steel imports from Australia down by 67% in Oct’18

The company imported 0.19 MnT iron ore from Australia down 67% M-o-M as against 0.57 MnT a month ago.

The total imports by the company witnessed at 0.52 MnT, down 29% M-o-M as compared to 0.74 MnT in Sep’18. The average global iron ore fines (Fe 62%) prices for Sep’18 marked at USD 68/MT, CFR China.

JSW Steel imports from Brazil witnessed at 0.33 MnT, up almost two folds on monthly basis as compared to 0.17 MnT a month before.

Plant-wise iron ore sourcing pattern of JSW Steel: Oct’18 Vs Sep’18

Source: SteelMint, karnataka DMG, Railways
Quantity in MnT
Provisional Data

For mine-wise details on JSW iron ore sourcing, Click here