India: JSW Iron Ore Sourcing Down 34% in Jan'20
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JSW Steel- India's one of the largest private steel maker total iron ore sourcing recorded at 1.8 MnT in Jan'20. The sourcing witnessed 34% drop M-o-M as against 2.7 MnT in Dec'19.
On yearly basis, sourcing dropped by 4% in Jan'20 as against 1.87 MnT in Jan'19.
Sourcing from Odisha down marginally in Jan'20
The steelmaker procured 297,636 MnT iron ore from Odisha based miners in Jan'20, as compared to 300,341 MT in Dec'19.
Few major miners have already made aggressive bookings in last month's as steel mills were actively restocking material ahead Mar'20 lease expiry. Also few mines are heard to have achieved EC limits for this fiscal.
Sourcing from NMDC (C.G.) stable in Jan'20
The miner sourced 61 rakes (0.23 MnT) of iron ore from NMDC for the month of Jan'20,st as compared to 62 rakes (0.24 MnT) a month ago.
NMDC Ltd increased the prices from its mines twice in the month of Jan'20. The miner increased iron ore fines prices by INR 550/MT, Baila lump by INR 600/MT, DR-CLO price hike was by INR 700/MT and ROM by INR 570/MT.
JSW iron ore purchases from Karnataka e-auction down 42% in Jan'20
JSW Steel's iron ore purchases from Karnataka e-auctions decreased significantly by 42% to 1.26 MnT in Jan'20 compared to 2.17 MnT in Dec'19. Out of 1.26 MnT iron ore sourced by
JSW in Jan'20, Vedanta supplied 0.54 MnT down 39% as against 0.89 MnT a month before in Dec'19 and thus contributed around 43% of total JSW sourcing.
NMDC supplied 0.33 MnT up 57% as against 0.21 MnT in Dec'19 and thus contributed around 26% of total JSW sourcing.
JSW Steel imports continued to remain nil for the month
JSW Steel imports witnessed nil for the eighth consecutive month in Jan'20. Monthly average global iron ore fines (Fe 62%) prices in Jan'20 witnessed at USD 92.63/MT, CFR China as against USD 91.43/MT, CFR China in Dec'19.
JSW iron ore sourcing from it captive mines recorded at 270,000 MT in Jan'20 as against being 435,000 MT in Dec'19.
JSW Steel Iron Ore Sourcing in Jan'20 & Dec'19
| Buyer | States | January'20 | December'19 |
| JSW Steel (Vijayanagar) | Karnataka | 1,065,000 | 2,077,155 |
| JSW Steel (Dolvi Works) | Odisha | 251,517 | 300,341 |
| Chhattisgarh | 234,850 | 238,700 | |
| Total | 486,367 | 539,041 | |
| JSW Steel (Salem Works) | Karnataka | 190,000 | 96,000 |
| Odisha | 46,119 | - | |
| Total | 236,119 | 96,000 | |
| Grand Total | 1,787,486 | 2,712,196 |
Source: SteelMint,
Quantity in MT
Provisional Data
In the Odisha iron ore and manganese mine block auction 2020, JSW Steel bagged four iron ore mines, Nuagaon at 95.20%, Narayanposhi at 98.55%, Ganua block at 132% and Jajang at 110% premium.
For more details on mine wise sourcing, Click here
