India: JSW Steel's Iron Ore Sourcing Down 26% M-o-M in Feb'18

JSW Steel - India's largest steel maker crude steel output move down by 9% M-o-M basis in Feb'18 to 1.33 MnT which was 1.46 MnT in Jan'18. However, on yearly basis JSW crude steel output was higher by 6% Y-o-Y basis as compared to 1.26 MnT in Feb'17.

The company recorded decline in iron ore sourcing in Feb'18. The iron ore sourcing stood at 2.40 MnT in Feb'18, down 26% M-o-M as against 3.22 MnT in Jan'18.

In the first eleven months of FY'18, (Apr'17-Feb'18) JSW Steel has sourced 29.76 MnT iron ore. The crude steel output for first eleven months stood at 14.75 MnT.

Sourcing from NMDC (C.G.) increased to 61 rakes in Feb'18:

JSW Steel (Dolvi) procured 61 rakes from NMDC Chhattisgarh mines in Feb'18, up by 22% compared to Jan'18 which was at 50 rakes. NMDC Chhattisgarh had kept prices unchanged in Feb'18 except for a small reduction of INR 30/MT in DR-CLO. However, in Jan'18, the miner had raised prices by 22%.

JSW witnessed 62% decline in imports in Feb'18:

JSW iron ore imports in Feb'18 recorded at 0.57 MnT, down 62% M-o-M as against 1.49 MnT in Jan'18. Out of 0.57 MnT iron ore imported by JSW Steel in Feb'18, 0.19 MnT iron ore was imported at Jaigarh port and 0.38 MnT iron ore imported at Krishnapatnam Port.

Procurement from Karnataka increased marginally in Feb'18:

JSW Steel's iron ore purchases from Karnataka e-auctions stood at 1.32 MnT in Feb'18 up marginally by 4% M-o-M compared to 1.27 MnT in Jan'18. Out of 1.32 MnT iron ore sourced 0.96 MnT was fines and 0.35 MnT was lumps.
NMDC supplied 0.71 MnT iron ore via e-auction in Feb'18, a fall of 4% as against 0.74 MnT in Jan'18, contributing 54% of total share.

Iron ore Procurement from Odisha merchant mines remained almost stable in Feb'18:

JSW Steel iron ore sourcing increased marginally in Feb'18, at 0.27 MnT as against 0.26 MnT in Jan'18. JSW Steel's iron ore procurement from Odisha mines has reduced in last two months due to closure of major mines in Odisha, that were unable to submit penalty amounts by the fixed deadline of 31 Dec'17.

Steelmaker iron ore procurement from Jharkhand recorded nil in Feb'18.

Plant-wise iron ore sourcing pattern of JSW Steel: Feb'18 Vs Jan'18

Source: SteelMint Research, Karnataka DMG, Odisha govt.
Quantity in MnT
Provisional Data