Indian steel major JSW Steel sourced 2.48 million tonnes (mnt) of iron ore from the merchant market in Dec’21. The sourcing increased 172% as against 0.91 mnt seen in Nov’21. The figures exclude captive iron ore sourcing.
JSW’s capacity utilisation of existing operations at standalone level was at 94% in Q3FY’22. The company’s Dolvi phase II expansion has contributed in a rise in production volumes.
Purchases from Karnataka e-auctions rise 202% m-o-m
JSW Steel sourced around 1.81 mnt of iron ore from the Karnataka e-auctions in Dec’21, a rise of 202% as against 0.60 mnt in Nov’21. The rise in purchases was due to softness in iron ore prices and increased number of auctions in Dec’21.
Out of this, NMDC and Vedanta supplied 0.62 mnt and 0.78 mnt in Dec’21 respectively, a sharp 417% and 550% increase, as compared to 0.12 mnt each in Nov’21.
Sourcing from NMDC Chhattisgarh up 7%
JSW Steel’s sourcing from NMDC’s Chhattisgarh mines moved up by 7% in Dec’21 to 0.30 mnt as compared to 0.28 mnt in Nov’21. Out of this, Monnet Ispat and Energy procured 3,850 tonnes (t) of iron ore against 42,350 t a month ago. The procurement decreased due to scheduled maintenance at the company’s pellet plant.
Sourcing from Odisha drops 100%
The steelmaker procured 124 t of iron ore from Odisha-based merchant miners in Dec’21, a decline of 100% compared to 25,826 t in Nov’21.
JSW Steel iron ore sourcing in Dec’21 and Nov’21
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