Bhushan Steel – a major integrated steel maker has reduced its monthly iron ore & pellet sourcing by 29% in Feb’17.
Its iron ore sourcing moved down by 29% M-o-M from 0.49 MnT in Jan’17 to 0.35 MnT in Feb’17. And the steel maker sourced only single pellet rake in Feb’17.
The steel maker raised its iron ore procurement from Serajuddin Mines from 0.10 MnT in Jan’17 to 0.11 MnT in Feb’17. However its sourcing from Rungta Mines reduced to half from 0.16 MnT to 0.09 MnT. On similar lines, its procurement from Indrani Patnaik fell from 0.14 MnT in Jan’17 to 0.07 MnT in Feb’17.
Bhushan steel’s pellet procurement also witnessed decline in Feb’17 and it procured single rake last month compared to 3 rakes in Jan’17.
Bhushan Steel’s iron ore & pellet sourcing: Jan’17 vs Feb’17
| Particulars | Iron ore & pellet sourcing | |
| Jan’17 | Feb’17 | |
| Iron ore | ||
| Serajuddin Mines | 100,026 | 114,801 |
| Rungta Mines | 161,295 | 88,381 |
| Indrani Patnaik | 142,093 | 73,003 |
| O.M.C. | 4,313 | – |
| Essel Mining | 6,071 | – |
| Others | 73,435 | 71,137 |
| Total (i) | 487,233 | 347,322 |
| Pellet | ||
| Brahmani River Pellets | – | – |
| Jindal Steel & Power | 11,550 | 3,850 |
| Arya Iron & steel | – | – |
| Total (ii) | 11,550 | 3,850 |
| Grand Total (i + ii) | 498,782 | 351,171 |
Qty in MT
Provisional data
Source: Odisha govt, Indian Railways, SteelMint Research
Bhushan Steel’s net loss widens Y-o-Y in Q3 FY17 – Bhushan Steel’s net loss widened to INR 734.04 crores for the quarter ending on 31 Dec’16 (i.e. Q3 FY17) compared to INR 693.6 crores in Q3 FY16.
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