Jeevaka Industries, a steelmaker based in Andhra Pradesh has started sourcing iron ore from domestic market. Earlier the steelmaker used to rely on imported iron ore. Jeevaka Industries deals in production of sponge iron, billets, structure steels and rebars.
Jeevaka Industries’ last import shipment observed in Mar’16
A 90,000 MT iron ore vessel was imported from South Africa at Krishnapatnam port on 28 Mar’16. The vessel was jointly booked by Akshara Industries, Jeevaka Industries, Pushpit Steels and Kamchi Group. No iron ore import shipment by the steelmaker was observed since then.
Rising global iron ore prices make lump import less attractive
Global iron ore prices are constantly witnessing strength making imported iron ore offers costlier. Also lump premium has moved up and was assessed at USD 0.19/DMT, CFR China last week. Following this imported South African lump prices to India is expected to be around USD 72-73/MT, CFR India (up by USD 7/MT M-o-M).
Jeevaka Industries procured lump in recent Karnataka e-auction
The steel maker participated in Karnataka e-auction for the first time in the e-auction conducted on 05 Aug’16. The steel maker sourced 6,000 MT lump. It procured 4,000 MT lump (Fe 63%) from RBSSN mines at bid price of INR 2,380/MT (basic) and 2,000 MT lump (Fe 62.2%) from SV Srinivasulu mines at bid price of INR 1,859/MT (basic).
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