India’s leading steel producer, JSW Steel is expecting Coking Coal supply will remain flat to about 7-8 MnT during FY15.
Soft steel demand and Iron ore dearth will build pressure on its production. As the company already mentioned in the previous year about its 10 MnT pa Vijaynagar based plant, which would not be operating more than 80% of installed capacity in the future because of Iron ore faint supply. In view of Iron ore dearth, company also tardily moving on its expansion plans of 40 MnT Coal in coming 10 years.
The company hope that the Iron ore supply will get better by the end of next financial year. Company’s Joint MD Rao said, “More and more mines are opening in Karnataka and we expect Odisha’s production to rise.”
“Iron ore production in Karnataka is expected to rise about 22 MnT in the March-end of 2015,” he added.
Rao further stated, “Our Coking Coal (Metallurgical Coal) imports will stay the same but we expect the Iron ore situation in India to improve in the next year.”
JSW Steel Coal Import in FY14
During the Apr’13-Jan’14, JSW Steel has imported around 6.4 MnT of Coking Coal. Around 69% was imported from Australia and rest 31% from different countries i.e. South Africa, USA, Mozambique, Russia, Canada, Colombia, Latvia, Ukrain and others.
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