Tata Steel BSL Iron Ore and Pellet Sourcing Up 21% in July’19

Bhushan Steel – a major integrated steel maker with a capacity of 5.6 MnT has recorded iron ore & pellet sourcing at 0.55 MnT in July’19. The sourcing picked up 21% as against 0.45 MnT in June’19.

Tata Steel BSL, formerly Bhushan Steel underwent Bankruptcy proceedings. In May’18, NCLT (National Company Law Tribunal) finally gave its approval to Tata Steel’s resolution plan of acquiring debt-ridden Bhushan Steel under the Insolvency and Bankruptcy Code (IBC).

Bhushan steel total iron ore sourcing for the month stood at 0.55 MnT, up 24% against 0.44 MnT in June’19.

Tata Steel supplies picked up significantly 69% for the month to 0.21 MnT as against 0.12 MnT a month ago.

State owned miner- OMC supplied 0.12 MnT iron ore to the steel maker, up 19% as compared to 0.1 MnT in June’19. Sourcing from Indrani Patnaik stood at 0.09 MnT, down 26% M-o-M.

Bhushan Steel iron ore procurement from Serajuddin, AMTC and RP Sao picked up for the month to 67,892 MT, 26,924 MT and and 19,571 MT respectively.

Bhushan Steel pellet sourcing fell 75% in July’19

The pellet sourcing by the steel maker dropped 3,850 MT in July’19, down 75% as against 15,400 MT a month ago.

Bhushan Steel Iron Ore Sourcing

Source: SteelMint Research, this includes rake , not from
Quantity in MT
Provisional Data,
the figures include only rake movement, road movement is excluded

Tata Steel BSL is planning to expand Bhushan steel capacity from 5.6 MnT to 8.3 MnT. They are also planning to enhance production at its captive iron ore mines around Jamshedpur and Kalinganagar.