Bhushan Power & Steel – a major integrated steel maker with a capacity of 3.5 MnT has recorded iron ore sourcing at 164,175 MT in Feb’20. The sourcing witnessed a fall of 26% on monthly basis as against 222,008 MT in Jan’20.
Sourcing from Rungta mines increased 23% in Feb’20
Essel Mining supplies of iron ore for the month of Feb’20 recorded at 66,076 MT, down 34% as compared to 100,872 MT a month ago.
Rungta Mines supplies picked up 23% to 23,658 MT for the month as compared to 19,298 MT in Jan’20.
State owned miner- OMC mines depicted sharp rise in supplies to Bhushan Power at 74,441 MT in Feb’20 as compared to 9,218 MT a month ago.
Amid lowered bookings Odisha based miners have reduced prices recently. Essel Mining decreased its offers by INR 400/MT for high grade iron ore lumps w.e.f 18th Mar’20.
Serajuddin decreased lumps prices twice by around INR 1,000/MT in a week’s time for 5-18 mm (Fe 63%) to INR 4,000/MT (ex-mines, including Royalty, DMF, & NMET). KJS Ahluwalia and Kaypee enterprices also reduced its iron ore lumps offer by INR 400-500/MT as on 19th Mar.
Bhushan Power & Steel: Iron Ore Sourcing Feb’20 v/s Jan’20
| Seller | Feb-20 | Jan-20 |
| OMC | 74,441 | 9,218 |
| Essel Mining | 66,076 | 100,872 |
| Rungta Mines | 23,658 | 19,298 |
| A.M.T.C | – | 5,465 |
| Indrani Patnaik | – | 87,155 |
| Grand Total | 164,175 | 222,008 |
Source: SteelMint Research
Quantity in MT
Provisional Data
the figures include only rake movement, road movement is excluded
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