India: JSW Steel Reduces Iron Ore Import; Increases Purchase from Odisha
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o JSW imports reduced 47% in Sep'18
o Sourcing from Odisha, increased to more than two folds
JSW Steel- India's largest steel maker recorded imports at 0.74 MnT, down 47% M-o-M as compared to 1.38 MnT in Aug'18. JSW Steel imported 0.57 MnT iron ore from Australia and 0.17 MnT from Brazil.
JSW Steel - iron ore sourcing recorded decline in Sep'18. The total iron ore sourcing stood at 2.29 MnT, down 16% M-o-M as against 2.72 MnT in Aug'18.
JSW iron ore sourcing dropped in Q2FY19
The miner recorded Q2 FY19 sourcing at 6.97 MnT, down 6% against 7.36 MnT in Q1 FY19.
JSW Steel's crude steel output stood at 4.18 MnT in Q2 FY19 higher by 6% Y-o-Y as compared to 3.94 MnT in Q2 FY18.On quarterly basis the output inched up by 1% as compared to 4.12 MnT in Q1 FY'19.
Company's crude steel output recorded at 8.3 MnT in H1 FY19 against 7.86 MnT for same duration last previous year.
JSW sourcing from Odisha doubled in Sep'18
The steelmaker procured 0.18 MnT iron ore from Odisha based miners in Sep'18, up two folds on monthly basis as against 0.09 MnT in Aug'18.
Steelmint has learned from the sources, that those merchant miners were heard offering discounts over increased offers to stimulate buying interest.
Sourcing from NMDC (C.G.) up 58% in Sep'18:-
JSW Steel (Dolvi) procured 19 rakes from NMDC Chhattisgarh mines in Sep'18, rise of 58% as against 12 rakes in Aug'18. However purchase from Salem and Vijayanagar have been decreased.
JSW purchases from Karnataka Up 7% in Sep'18:
JSW Steel's iron ore purchases from Karnataka e-auctions stood at 1.30 MnT in Sep'18, up 7% M-o-M compared to 1.21 MnT in Aug'18.
Out of 1.30 MnT iron ore sourced by JSW, NMDC had supplied 0.48 MnT in Sep'18, down 48% as against 0.85 MnT in Aug'18. This is due to rise in prices by NMDC. The miner increased base prices in Karnataka e-auctions by INR 350/MT in fines & INR 300/MT in lumps on 26th Sep'18. Prior to this on 10th Sept the miner had raised prices by INR 150/MT in fines & INR 200/MT in lumps.
Plant-wise iron ore sourcing pattern of JSW Steel: Sep'18 Vs Aug '18
| JSW Plant | Load States | Sep'18 | Aug'18 |
| JSW Steel (Vijayanagar) | Karnataka | 1.19 | 1.19 |
| Import | 0.38 | 0.88 | |
| Total | 1.57 | 2.07 | |
| JSW Steel (Dolvi Works) | Import | 0.36 | 0.50 |
| Odisha | 0.16 | 0.06 | |
| Chhattisgarh | 0.07 | 0.05 | |
| Total | 0.59 | 0.60 | |
| JSW Steel (Salem Works) | Karnataka | 0.10 | 0.02 |
| Odisha | 0.02 | 0.03 | |
| Total | 0.12 | 0.05 | |
| Grand Total | 2.29 | 2.72 | |
Source: SteelMint, karnataka DMG, Railways
Quantity in MnT
Provisional Data
For mine-wise details on JSW iron ore sourcing, Click here
