Bhushan Steel: Iron Ore Sourcing up 50% M-o-M in Feb'18

Bhushan Steel - a major integrated steel maker has recorded increase in its monthly iron ore & pellet sourcing in Feb'18. The iron ore and pellet sourcing by the company has witnessed increase of 27% M-o-M to 0.42 MnT in Feb'18 as against 0.33 MnT in Jan'18.

Bhushan Steel's Iron Ore Procurement increased 50% in Feb'18 -

Iron ore procurement by Bhushan Steel increased to 0.41 MnT in Feb'18, up 50% M-o-M against 0.27 MnT in Jan'18. Out of the total procurement, OMC stood the largest supplier to Bhushan Steel at 0.18 MnT (up 90% M-o-M), contributing 44% of total sourcing by the company , followed by KJS Ahluwalia at 0.06 MnT and Rungta Mines at 0.05 MnT. Procurement from Rungta Mines increased to almost thrice on monthly premises.

Procurement from Serajuddin Mines in Feb'18 remained nil. This was due to closure of mines owing to failure of penalty payments relating illegal mining activities till the dead line of 31st Dec'17, according to judgment issued by Supreme Court of India. It is to be noted that Bhushan Steel stood the 2nd largest iron ore buyer from Serajuddin Mines in CY'17 with total purchase quantity of 1.59 MnT.

Bhushan Steel's pellet procurement from JSPL decreased by 80% in Feb'18:

JSPL (Jindal Steel and Power) continued to supply pellets to Bhushan Steel. Its pellet sourcing decreased to 3 rakes in Feb'18 against 15 rakes in Jan'18.

Bhushan Steel's iron ore & pellet sourcing: Feb'18 Vs Jan'18

Source: SteelMint Research
Quantity in MT
Provisional Data