JSW Steel- India’s one of thelargest private steel maker total iron ore sourcing recorded at 2.7 MnT in Dec’19. The sourcing witnessed 43% rise M-o-M as against 1.9 MnT in Nov’19.
On yearly basis, sourcing picked up 16% in Dec’19 as against 2.33 MnT in Dec’18.
Sourcing from Odisha up 4% in Dec’19
The steelmaker procured 0.30 MnT iron ore from Odisha based miners in Dec’19, as compared to 0.29 MnT in Nov’19.
Almost all the miners from Odisha increased iron ore fines and lumps offers in the last one month, fines by around INR 600-700/MT and in lumps around 1,000-1100/MT (Ex-mines). If market sources are to be believed, few major miners have already made aggressive bookings in last months as steel mills were actively restocking material ahead Mar’20 lease expiry. Also few mines are heard to have achieved EC limits for this fiscal. Hence, amid tight material availability miners are raising offers.
Sourcing from NMDC (C.G.) increased in Dec’19
The miner sourced 62 rakes (0.24 MnT) of iron ore from NMDC for the month of Dec’19, up as against 55 rakes (0.21 MnT) a month ago.
NMDC Ltd announced a hike in its iron ore prices for Jan’20. Prices of iron ore fines and lumps have been increased by INR 200/MT and in DR-CLO price hike was by INR 230/MT and ROM by INR 190/MT.
JSW iron ore purchases from Karnataka e-auction up 55% in Dec’19
JSW Steel’s iron ore purchases from Karnataka e-auctions picked up significantly by 55% to 2.17 MnT in Dec’19 compared to 1.40 MnT in Nov’19.
Out of 2.17 MnT iron ore sourced by JSW, Vedanta stood largest supplier at 0.88 MnT. NMDC supplied 0.21 MnT against 0.76 MnT a month ago.
JSW Steel imports continued to remain nil for the month
JSW Steel imports witnessed nil for the seventh consecutive month in Dec’19. Monthly average global iron ore fines (Fe 62%) prices in Dec’19 witnessed at USD 91/MT, CFR China as compared to USD 84.5/MT, CFR China in Nov’19.
JSW Steel Iron Ore Sourcing in Dec’19 & Nov’19
| Buyer | States | December’19 | November’19 |
| JSW Steel (Vijayanagar) | Karnataka | 2,077,155 | 1,280,000 |
| Total | 2,077,155 | 1,280,000 | |
| JSW Steel (Dolvi Works) | Chhattisgarh | 238,700 | 211,750 |
| Odisha | 300,341 | 289,324 | |
| Total | 539,041 | 501,074 | |
| JSW Steel (Salem Works) | Karnataka | 96,000 | 120,000 |
| Grand Total | 2,712,196 | 1,901,074 |
Source: SteelMint,
Quantity in MT
Provisional Data
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