India: Odisha Iron Ore Production Up 31% in Nov'19

Odisha - India's largest iron ore producing state recorded production at 13.72 MnT up 31%, as against 10.49 MnT in Oct'19, according to the provisional data of Odisha Govt. maintained by SteelMint. The figures include the type of material - fines, lump, and concentrate.

Rungta Mines - India's largest private merchant miner produced 3.61 MnT iron ore in Nov'19. The production recorded sharp rise by 36% as compared to 2.65 MnT a month ago. Rungta mines at the beginning of Jan'20 announced hike of INR 500/MT in lump and INR 300/MT in fines.

Tata Steel's iron ore production stood at 1.42 MnT (up 21% on monthly basis) and SAIL at 1.06 MnT (up 36% M-o-M) for Nov'19.

Essel Mining and Industries iron ore production for the month stood at 1.35 MnT, up 50% on monthly basis. The miner has been continuously increasing its production at its Jilling Langalota mines after it received permission from Supreme Court in Feb'18. Serajuddin mines production recorded 21% rise to 1.2 MnT in Nov'19 as compared to 0.99 MnT a month ago. The miner has increased iron ore lump offers on 03 Jan'20 for 5-18 mm (Fe 63%) by INR 600/MT. Miner has raised lump (5-18 mm) prices by INR 1,000/MT in the last one month.

Almost all the miners from Odisha increased iron ore fines and lumps offers twice in the last one month fines around INR 600-700/MT and in lumps around 1,000-1100/MT (Ex-mines). If market sources are to be believed, few major miners have already made aggressive bookings in last months 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. Hence, amid tight material availability miners are raising offers.

Odisha Mine-wise Iron Ore Production: Nov'19 vs Oct'19

Source: Govt. of Odisha
Provisional data including fines, lump & concentrate
Quantity in MnT