Indian steel mills are stocking iron ore due to fear of shortage from Odisha in coming months owing to 2020 auctions. Iron ore dispatches from Odisha was recorded at all time high in Nov’19, as per data compiled by SteelMint.
The manufacturers in Indian domestic market sourced about 8,373,392 MT iron ore in Nov’19, surging by 34% M-o-M as against 6,230,181 MT in Oct’19. The data is excluding SAIL, TATA & other captive procurement and excludes movement for exports.
Iron ore dispatches from Odisha to Chhattisgarh recorded at 2,095,150 MT in Nov’19 than the 1,815,030 MT in Oct’19, up by 13%.
In line West Bengal based plants sourced about 1,843,669 MT Iron ore in Nov’19, up by 45% as compared with 1,267,951 MT in Oct’19.
Also, iron ore dispatches within Odisha rally by 42% M-o-M to 2,886,900 MT in Nov’19 as against 2,031,366 MT in Oct’19.
SteelMint in conversation with the major sponge makers learned that, they are holding bulk bookings for pellet on account of pending deliveries of iron ore made in previous bookings. Also they have booked volumes for Jan’20 delivery too.
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