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Bhushan Steel: Iron Ore & Pellet Sourcing Down 8% in Nov'18

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Fines/Lumps
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13 Dec 2018, 16:25 IST
Bhushan Steel: Iron Ore & Pellet Sourcing Down 8% in Nov'18

Bhushan Steel - a major integrated steel maker with a capacity of 5.6 MnT has recorded iron ore and pellet sourcing at 0.39 MnT in Nov'18. The sourcing dropped on monthly basis as against 0.42 MnT in Oct'18.

The total iron ore procurement in Nov'18 dropped 9% on monthly basis to 0.38 MnT as against 0.41 MnT in Oct'18.

Iron ore procurement from OMC up significantly M-o-M

State owned miner- OMC stood largest supplier of iron ore to the Bhushan Steel at 0.15 MnT in Nov'18, up 45% M-o-M as against 0.10 MnT in Oct'18.

Tata Steel supplied 0.09 MnT of iron ore in Nov'18, up 83% as against 0.05 MnT a month ago.

Serajuddin and Indrani Patnaik supplies to Bhushan Steel recorded at 0.05 (down 63% M-o-M) and 0.04 MnT (down 44% on monthly basis) respectively.

Sourcing from RP Sao and KJS Ahluwalia increased to 0.02 MnT(up 44% M-o-M) and 0.015 MnT ( up two folds on monthly basis) respectively.

Bhushan Steel procured 2 rakes of pellets in Nov'18

Bhushan Steel pellet procurement in Nov'18 recorded stable on monthly basis at 2 rakes (7,700 MT).

Bhushan Steel Iron Ore Sourcing

Bhushan Steel Iron Ore Sourcing
Seller Nov'18 Oct'18
OMC 148,366 102,039
Tata Steel 91,434 50,012
Serajuddin 50,404 135,097
Indrani Patnaik 45,443 80,695
RP Sao 19,102 13,251
KJS Ahluwalia 15,373 7,695
A.M.T.C 8,046 20,909
Essel Mining - 3,864
Total 378,169 413,562
Bhushan Steel Pellet Sourcing
Seller Nov'18 Oct'18
MSP Sponge ltd 7,700 7,700
Total 7,700 7,700
Grand Total 385,869 421,262

Source: SteelMint Research
Quantity in MT
Provisional Data

Bhushan Steel was one of the companies 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 has received necessary approval to Change its name to Tata Steel BSL following its takeover by Tata Steel. Also, Tata steel targets 4 MnT per yr production capacity at Bhushan Steel by Mar'19.

Tata steel is planning to expand Bhushan steel capacity from 5.6 MnT to 8.3 MnT. Also, it is planning to enhance production at its captive iron ore mines around Jamshedpur and Kalinganagar which will help in raw material availability to ramp up capacity at Bhushan Steel.

13 Dec 2018, 16:25 IST

 

 

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