JSW Steel iron ore imports remained nil amid competitive domestic offer.
JSW Steel- India’s second largest private steel maker total iron ore sourcing recorded at 2.33 MnT in Oct’19. The sourcing witnessed 76% rise M-o-M as against 1.33 MnT in Sep’19.
On yearly basis, sourcing picked up 53% in Oct’19 as against 1.52 MnT in Oct’18.
JSW Steel imports recorded nil for the month
JSW Steel imports witnessed nil for the fifth consecutive month in Oct’19. Monthly average global iron ore fines (Fe 62%) prices in Oct’19 witnessed at USD 89/MT, CFR China. Domestic offers were competitive compared to imports.
Sourcing from Odisha up 11% in Oct’19 post monsoon
The steelmaker procured 0.33 MnT iron ore from Odisha based miners in Oct’19, up as compared to 0.29 MnT in Sep’19. Towards early Oct’19, few Odisha based major merchant iron ore miners had decreased offers on bulk quantity purchase of fines. Serajuddin on 11th Nov’19 has increased iron ore lump offers for 5-18 mm (Fe 63%) by INR 300/MT to INR 3,700/MT (ex-mines, including Royalty, DMF, & NMET).
Sourcing from NMDC (C.G.) up 57% in Oct’19
The miner sourced 22 rakes of iron ore from NMDC for the month of Oct’19, up sharply by 57% as against 14 rakes a month ago. The sourcing stood up amid offers dropped by the miner in the mid of Sept’19.
Recently on 14th Nov, the NMDC reduced prices further for fines and lumps by INR 100/MT and in DR-CLO price cut was by INR 120/MT and ROM by INR 90/MT.
JSW iron ore purchases from Karnataka e-auction almost double in Oct’19
JSW Steel’s iron ore purchases from Karnataka e-auctions increased significantly by 96% to 1.92 MnT in Oct’19 compared to 0.98 MnT in Sep’19.
Vedanta was the largest supplier with 0.85 MnT, increasing sharply by more than three-times against at 0.27 MnT last month.
NMDC stood the second-largest iron ore supplier to JSW with 0.49 MnT. JSW iron ore sourcing from other private mines also increased by 38% to 0.58 MnT as against 0.42 MnT in last month.
JSW Steel Iron Ore Sourcing in Oct’19 & Sep’19
| Buyer | Load State | October’19 | September’19 |
| JSW Steel (Vijayanagar) | Karnataka | 1,898,000 | 880,000 |
| JSW Steel (Dolvi Works) | Odisha | 284,543 | 274,496 |
| Chhattisgarh | 84,700 | 53,900 | |
| JSW Steel (Dolvi Works) Total | 369,243 | 328,396 | |
| JSW Steel (Salem Works) | Odisha | 42,229 | 18,817 |
| Karnataka | 24,000 | 100,000 | |
| JSW Steel (Salem Works) Total | 66,229 | 118,817 | |
| Grand Total | 2,333,472 | 1,327,213 | |
Source: SteelMint,
Quantity in MT
Provisional Data
For more details on mine wise sourcing, Click here.
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