India: Iron Ore Dispatches from Serajuddin Mines Up 44% in Feb’19

Serajuddin iron ore dispatches have hit close to 14 month high in Feb’19 as last high dispatches from miner was recorded at 0.91 MnT in Nov’17.

Odisha’s merchant iron ore miner, Serajuddin recorded sharp increase in Feb’19 dispatches  to 0.87 MnT, up 44% as against 0.61 MnT in Jan’19.

Serajuddin mine produces around 10 MnT iron ore annually and has an EC limit of 15.15 MnT p.a. However, the miner has ramped up production after it resumed operations from its new pit and hit 1 MnT mark of production in Jan’19.

Odisha- India’s largest iron ore producing state recorded rise in total iron ore dispatches at 6.65 MnT in Feb’19, up 18% as against 5.62 MnT in Jan’19. On yearly basis, Odisha dispatches increased 32% against 5.05 MnT in Feb’18. The figures exclude movement for export and dispatches of captive miners- SAIL & Tata Steel.

According to sources report, miners increased discount on bulk fines purchase. Many merchant miners in Odisha have mostly utilized their EC limits for the current fiscal year and are not seen actively offering material in the market. Earlier, Odisha merchant miners had twice raised iron ore prices in the month of Feb’19 following vale incident. Later Essel mining decreased prices by INR 300-400/MT in both lumps and fines.

Odisha based major merchant miners continue to hold iron ore offers in the month of Mar’19 except Essel Mining. SteelMint in conversation with market participants learned that market participants are expecting offers to move down in near term considering decline in pellet & sponge prices.

Rungta Mines iron ore dispatches down 7% M-o-M

Odisha’s merchant iron ore miner – Rungta Mines, India’s largest private merchant miner, dispatched the iron ore at 1.30 MnT in Feb’19. The dispatch recorded drop by 7% M-o-M against 1.40 MnT in Jan’19.

Essel mining, Kaypee Enterprises and Tata Steel dispatches recorded increase for the month of Feb’19 at 0.57 MnT, 0.45 MnT and 0.39 MnT respectively.

Iron ore dispatches from OMC up 51% in Feb’19

OMC state-owned miner recorded 51% rise in dispatches at 0.78 MnT in Feb’19 as against 0.51 MnT in Jan’19.

Mine-wise Odisha iron ore dispatches: Feb’19 v/s Jan’19

Quantity in MnT
Excluding movement for export & movement of SAIL & Tata Steel
Provisional Data
Source: Govt. of Odisha