JSW Steel- India’s second largest private steel maker total iron ore sourcing recorded at 1.90 MnT in Nov’19. The sourcing witnessed 19% drop M-o-M as against 2.33 MnT in Oct’19.
On yearly basis, sourcing dropped 31% in Nov’19 as against 2.77 MnT in Nov’18.
Sourcing from Odisha down 11% in Nov’19
The steelmaker procured 0.29 MnT iron ore from Odisha based miners in Nov’19, as compared to 0.33 MnT in Oct’19. On 20th Nov, Odisha’s major merchant iron ore miners namely Serajuddin, KJS Ahluwalia & Kaypee increased iron ore lump offers. Miners increased prices for 5-18 mm (Fe 63%) by INR 300/MT to INR 4,000/MT (ex-mines, including Royalty, DMF, & NMET) as against last offers at INR 3,700/MT (ex-mines, GST extra).
Sourcing from NMDC (C.G.) up sharply in Nov’19
The miner sourced 55 rakes of iron ore from NMDC for the month of Nov’19, up sharply as against 22 rakes a month ago. The sourcing stood up amid offers dropped by the miner towards mid of Nov’19. Prices of iron ore fines and lumps reduced by INR 100/MT and in DR-CLO price cut by INR 120/MT and ROM by INR 90/MT.
JSW iron ore purchases from Karnataka e-auction decreased for the month
JSW Steel’s iron ore purchases from Karnataka e-auctions decreased significantly by 27% to 1.4 MnT in Nov’19 compared to 1.92 MnT in Oct’19. Out of 1.40 MnT iron ore sourced by JSW, NMDC supplied 0.76 MnT up 54% as against 0.49 MnT last month and thus contributed around 54% of total JSW sourcing.
Out of 1.40 MnT iron ore sourced by JSW, NMDC supplied 0.76 MnT up 54% as against 0.49 MnT last month and thus contributed around 54% of total JSW sourcing.
JSW iron ore sourcing from other private mines increased by 11% to 0.64 MnT as against 0. 58 MnT in last month.
JSW Steel imports recorded nil for the month
JSW Steel imports witnessed nil for the sixth consecutive month in Nov’19. Monthly average global iron ore fines (Fe 62%) prices in Nov’19 witnessed at USD 84.5/MT, CFR China. Competitive domestic iron ore prices than global offers resulted in lower imports by steel maker.
JSW Steel Iron Ore Sourcing in Nov’19 & Oct’19
| Buyer | Load State | November’19 | October’19 |
| JSW Steel (Vijayanagar) | Karnataka | 1.28 | 1.90 |
| Total | 1.28 | 1.90 | |
| JSW Steel (Dolvi Works) | Odisha | 0.29 | 0.28 |
| Chhattisgarh | 0.21 | 0.08 | |
| Total | 0.50 | 0.37 | |
| JSW Steel (Salem Works) | Karnataka | 0.12 | 0.02 |
| Odisha | – | 0.04 | |
| Total | 0.12 | 0.07 | |
| Grand Total | 1.90 | 2.33 |
For more details on mine wise sourcing, Click here.
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