The steel maker’s iron ore sourcing increased by 11% M-o-M to 0.49 MnT in Nov’16.
Bhushan Steel – a major integrated steel maker has further raised its monthly iron ore & pellet sourcing by 10% in Nov’16. This is the 3rd consecutive month that the steel maker has raised its procurement.
Its iron ore sourcing climbed up from 0.44 MnT in Oct’16 to 0.49 MnT in Nov’16. Out of 0.49 MnT iron ore procured last month, 0.23 MnT was from Indrani Patnaik mines (down by 20% M-o-M). The miner kept iron ore offers unchanged and were as follows – 5-18 mm (Fe 63%) – INR 2,850/MT and fines (Fe 63%) – INR 1,550/MT (loaded to wagons, including royalty, DMF & NMET)
Steel maker’s iron ore sourcing from Rungta Mines increased significantly from 0.02 MnT in Oct’16 to 0.1 MnT in Nov’16. Iron ore sourcing from OMC moved up by 20% M-o-M to 0.06 MnT in Nov’16.
Bhushan steel’s pellet procurement also witnessed increase in Nov’16 – Bhushan Steel’s pellet sourcing moved up on monthly premises and it procured 21 rakes. 20 rakes were procured from JSPL and one rake was sourced from Arya Iron & Steel.
Bhushan Steel’s iron ore & pellet sourcing: Oct’16 vs Nov’16
| Particulars | Iron ore & pellet sourcing | |
| Oct’16 | Nov’16 | |
| Iron ore | ||
| Rungta Mines | 23,087 | 107,226 |
| Indrani Patnaik | 294,549 | 226,664 |
| O.M.C. | 49,803 | 59,761 |
| Essel Mining | 11,314 | 9,326 |
| Others | 64,386 | 89,984 |
| Total (i) | 443,139 | 492,961 |
|
Pellet |
||
| Brahmani River Pellets | 3,850 | – |
| Jindal Steel & Power | 69,300 | 77,000 |
| Arya Iron & steel | – | 3,850 |
| Total (ii) | 73,150 | 80,850 |
| Grand Total (i + ii) | 516,289 | 573,811 |
Qty in MT
Provisional data
Source: Odisha govt, Indian railways, SteelMint Research
Bhushan Steel’s net loss widens in Q2 FY17 – In recently announced quarterly results, Bhushan Steel has reported net loss of INR 980.2 crores in Q2 FY17 against net loss of INR 656.2 crore in Q1 FY17. In Q2 FY16 company’s net loss was at INR 722.92 crores.
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