Bhushan Steel’s Iron Ore & Pellet Sourcing Drops Further in Aug’16

The steel maker has reduced its iron ore & pellet sourcing by 34% M-o-M to 0.25 MnT in Aug’16.

Bhushan Steel – a major integrated steel maker has reduced its iron ore & pellet sourcing by 34% M-o-M in Aug’16. The steel maker procured 0.25 MnT iron ore & pellets last month compared to 0.38 MnT in Jul’16.

Iron ore sourcing down by about 30% M-o-M

Compared to its Jul’16 iron ore sourcing, which was recorded at 0.34 MnT, Bhushan Steel procured 0.24 MnT iron ore in Aug’16. Its iron ore procurement from Rungta Mines remained nil in Aug’16 while that from other Odisha miners were as follows: Indrani Patnaik – 0.15 MnT (down by 21% M-o-M) and OMC – 0.02 MnT (fall by 60% M-o-M).

It sourced the remaining amount of iron ore from Odisha’s other merchant miners namely – Essel Mining, MESCO and SN Mohanty mines.

Pellet sourcing falls to one-third in Aug

Bhushan Steel procured only four pellet rakes in Aug’16 from BRPL unlike 12 rakes it had sourced from JSPL and BRPL in Jul’16.

So far in FY17 (till Aug’16),the steel maker has procured 2.1 MnT iron ore and pellets. Out of this,1.8 MnT is iron ore,which it has sourced from Odisha merchant miners and the remaining share (0.3 MnT) is that of pellets.

Bhushan Steel’s iron ore & pellet sourcing in FY17

Qty in MT
Provisional data
Source: Odisha govt., SteelMint Research