JSW steel, India's second largest steel producer, is expecting a cargo of around 55,000 tonnes of iron ore fines at Karaikal port (Chennai) for its Salem steel plant. Cargo has been loaded from Dharma port and sourced from Odisha, according to industry sources.
JSW steel has been suffering from short supply of iron ore since honorable Supreme Court has banned iron ore mining in Karnataka in 2011.
Since then JSW steel has been procuring iron ore aggressively from Odisha and Chattisgarh for its Salem and Dolvi plant. In a recent statement Mr Arun Maheshwari, Sr VP JSW steels also mentioned that imports of iron ore and pellets may rise in coming time, looking at disrupted supply in domestic market.
Current prices of iron ore fines Fe 63% in Odisha are around Rs 1,500-1,700/t (ex mines basis, incld royalty).
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