In FY16, JSW Steel has already imported 1.28 MnT iron ore till Jan’16. Continuing with this the steel maker is likely to import 3 iron ore vessels in Mar’16 as per an industry source.
The import vessels carrying Carajas Brazilian fines (around 160,000 MT to 170,000 MT), pellet feed from Minas-Rio iron ore, Brazil (around 144,000 MT) and fines from Assmang, South Africa.
From which all sources is JSW Steel importing iron ore currently?
Fines from Carajas iron ore mine, Brazil- Carajas iron ore mine located in northern Brazil is fully owned by Vale. With average grade of iron ore at Fe 65.4% Vale produced 93 MnT iron ore from its Carajas iron ore mines in first three quarters of 2015 (Jan’15-Sept’15).
Currently prices of Carajas fines Fe 65% are USD 58.9/MT, CFR Tianjin Port China. Last month, the steel giant imported 169,400 MT iron ore fines from Carajas Brazil.
Pellet feed from Minas-Rio, Brazil-The Minas-Rio iron ore mining project situated in south-eastern Brazil is owned by Anglo American.
Prices of concentrate (Fe 66%) are currently at USD 46.8/MT, CFR Qingdao Port, China. In Jan’16, JSW Steel imported 145,000 MT pellet feed from Brazil.
Fines from Assmang, South Africa- The Assmang iron ore division situated in northern province of South Africa has iron ore fines deposits of minimum Fe 64% content.
Currently prices of Fe 65% South African fines are USD 47.5/MT, CFR China.
The steel maker is seen importing iron ore for its Dolvi steel plant which is undergoing a capacity expansion from 3.3 MnT pa to 5 MnT pa.
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