AM/NS India iron ore sourcing up by 6% y-o-y in FY'21

ArcelorMittal Nippon Steel India (AM/NS India) - Indian steel major, has recorded iron ore and pellet sourcing at 14.3 mn t in FY'21, up by 6% against 13.43 mn t in FY'20. The company's captive iron ore sourcing from Odisha was recorded at 3.23 mn t in FY'21 as against 0.23 mn t in FY'20.

Iron ore procurement from NMDC (Chhattisgarh) up by 8% in FY'21- The steelmaker procured 7.71 mn t of iron ore in FY'21 from NMDC's Bailadila mines (Chhattisgarh) via slurry pipeline, against 7.17 mn t in FY'20.

Sourcing from Odisha merchant mines decreased 53% in FY'21- The Company sourced 2.69 mn t iron ore from Odisha's merchant mines, down 53% y-o-y against FY'20 sourcing at 5.79 mn t.

Out of the total iron ore sourced from Odisha merchant mines in FY'21, the largest share was contributed by Serajuddin at 0.63 mn t followed by Rungta mines at 0.43 mn t.

The company recorded 0.5 mn t imports for the year, according to customs data maintained with SteelMint. However, the yearly average global iron ore fines (Fe 62%) prices increased to $126/t CFR China in FY'21 as against $95/t CFR China in FY'20.

AM/NS India iron ore sourcing FY'21 v/s FY'20

Quantity in mn t
Source: SteelMint
Figure Includes AMNS Captive mines Iron Ore Procurement

Key highlights

• ArcelorMittal Nippon Steel (AM/NS) has been granted a fifty-year mining lease for the Ghoraburhani-Sagasahi (Sagasahi) iron ore block. The company has clearance for a 7.16 mn t pa mining operation from this 99.59 mn t iron ore deposit spread over an area of 139.165 hectares in Sundergarh district in Odisha.
  
  
• The company has announced a plan to increase the finished steel making capacity at Hazira to 12-15 mtpa and is also planning to evaluate the option of a large green-field facility in Eastern India.