India: JSW Steel's Iron Ore Sourcing Up 20% in Dec'17
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JSW Steel is India's largest steel maker with crude steel production of 15.8 MnT in FY17.On a quarterly basis, JSW Steel has increased its iron ore sourcing by 10% to 8.5 MnT in Q3 FY'18 against 7.73 MnT in Q2 FY'18.On monthly premise its increased procurement by 20% to 3.24 MnT in Dec'17 against 2.70 MnT in Nov'17.
In the first nine months of FY18, (Apr-Dec'17) JSW Steel has sourced 24.14 MnT iron ore and its crude steel output was recorded at 12.33 MnT in the same time frame.
Sourcing from NMDC (C.G.) increased more than double - JSW Steel (Dolvi) procured 20 rakes from NMDC Chhattisgarh mines in Dec'17, more than double compared to Nov'17 which was stood at 9 rakes. Note Towards the end of Nov'17, NMDC had hiked iron ore prices up to 13%.
JSW Steel imported iron ore from Brazil and South Africa - JSW Steel imported a total of 0.23 MnT iron ore in Dec'17, down 32% as against 0.34 MnT in Nov'17. Out of 0.23 MnT iron ore 0.17 from Brazil and 0.06 from South Africa at Jaigarh port JSW generally imports ore as hedged cargo under long-term contracts. JSW has imported 2.74 MnT iron ore in CY'17 and turned out to be the largest importer.
Procurement from Karnataka up by 37% in Dec'17 - JSW Steel procurement increased by 37% M-o-M to 2.36 MnT iron ore from Karnataka e-auctions in Dec'17 compared to 1.73 MnT in Nov'17. Out of 2.36 MnT iron ore sourced, 1.82 MnT was fines and 0.54 MnT was lumps. NMDC supplied 1.01 MnT iron ore via e-auction in Dec'17, a rise of 9% as against 0.93 MnT in Nov'17 contributing 43% of total share, followed by Mysore minerals Ltd 25% share and remaining 32% by other private miners.
Iron ore Procurement from Odisha merchant mines declined 6% in Dec'17 - JSW Steel iron ore sourcing decreased to 0.51 MnT in Dec'17 as against 0.54 MnT in Nov'17.
Steelmaker iron ore procurement from Jharkhand was stable at 0.06 MnT in Dec'17 compared to last month.
Plant-wise iron ore sourcing pattern of JSW Steel: Dec'17 Vs Nov'17
| States | Dec'17 | Nov'17 |
| JSW Steel (Vijayanagar) | 2.63 | 2.13 |
| Karnataka | 2.32 | 1.67 |
| Odisha | 0.25 | 0.23 |
| Jharkhand | 0.06 | 0.06 |
| Import | - | 0.17 |
| JSW Steel (Dolvi Works) | 0.51 | 0.46 |
| Import | 0.23 | 0.17 |
| Odisha | 0.21 | 0.25 |
| Chhattisgarh | 0.08 | 0.03 |
| JSW Steel (SalemWorks) | 0.09 | 0.11 |
| Odisha | 0.05 | 0.05 |
| Karnataka | 0.04 | 0.06 |
| Total | 3.24 | 2.70 |
Source: SteelMint
Quantity in MnT
Provisional Data
