Bhushan Steel’s Iron Ore & Pellet Sourcing Up by 27% in Oct’16

The steel maker’s iron ore sourcing increased by 33% M-o-M to 0.44 MnT in Oct’16.

Bhushan Steel – a major integrated steel maker has further raised its monthly iron ore & pellet sourcing by 27% in Oct’16. This is the 2nd consecutive month that the steel maker has raised its procurement.

Its iron ore sourcing climbed up from 0.33 MnT in Sept’16 to 0.44 MnT in Oct’16. Out of 0.44 MnT iron ore procured last month, 0.29 MnT was from Indrani Patnaik mines (up by 53% M-o-M). The miner was seen giving following offers – 5-18 mm (Fe 63%) – INR 2,850/MT and fines (Fe 63%) – INR 1,550/MT (loaded to wagons, including royalty, DMF & NMET)

Though steel maker has increased its iron ore sourcing from Rungta Mines and KJS Ahluwalia mines, its iron ore procurement from OMC fell by 29% M-o-M.

Bhushan steel’s pellet sourcing remains stable – Bhushan Steel’s pellet sourcing remained unchanged on monthly premises and it procured 19 rakes. 18 rakes were procured from JSPL and one rake was sourced from BRPL.

Bhushan Steel’s iron ore & pellet sourcing: Sept’16 Vs Oct’16

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