Indian steel major – JSW Steel has sourced a total of 1.68 mn t iron ore in Nov’20. The sourcing increased by 10% as against 1.53 mn t in Oct’20. The figures exclude captive iron ore sourcing from Gonua & Narayanposhi mines.
Sourcing from Odisha picked up 33% in Nov’20
The steelmaker procured 474,087 t of iron ore from Odisha based miners in Nov’20, up 33% as compared to 356,839 t in Oct’20.
Sourcing from NMDC (C.G.) doubled in Nov’20
JSW Steel (Dolvi) sourcing from NMDC increased almost two folds to 0.18 mn t in Nov’20 against 0.09 mn t in Oct’20.
JSW iron ore purchases from Karnataka e-auction fell 13%
In the month of Nov’20, the company sourced around 0.94 mn t iron ore, down 13% against 1.08 mn t in Oct’20.
Out of 0.94 mn t iron ore sourced by JSW in Nov’20, Vedanta Ltd supplied 0.32 mn t in Nov’20 contributing 34% of total sourcing against 0.33 mnt in Oct’20. NMDC Kumarswamy mines supplied 0.22 mnt in Nov’20 compared to 0.35 mn t in Oct’20.
JSW resumes iron ore import after 1.5 years
JSW Steel imported 79,540 t iron ore from Finaland in Nov ’20. If sources are to be believed, it was a trial shipment and considering sharp hike in global iron ore prices, iron ore imports seems less viable currently, sources have reported to SteelMint. JSW Steel’s last iron ore shipment was seen in May’19 at 185,000 t.
JSW Steel Iron Ore Sourcing in Nov’20 & Oct’20
Source: SteelMint Research
Quantity in t
Excludes captive iron ore sourcing from Gonua & Narayanposhi
Provisional Data
JSW’s steel capacity utilization stable m-o-m
JSW Steel’s crude steel output was recorded at 1.332 mn t in Nov ’20, almost stable against 1.338 mn t in Oct ’20. However, the company continued to operate at 89% production capacity, according to its recent BSE filing. The shortage of Iron ore remained a constraint in Nov’20 to achieve higher capacity utilization.
Future plans: The Company expects to ramp up iron ore production from its recently won mines in Odisha and existing captive Karnataka mines. Adding up output from recently won mines in Odisha, the company plans to have captive iron ore production around 21 mn t in FY21.
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