India: JSW Iron Ore Sourcing Down Marginally in Feb'20

JSW Steel- India's one of the largest private steel maker total iron ore sourcing recorded at 1.77 MnT in Feb'20. The sourcing witnessed marginal drop M-o-M as against 1.79 MnT in Jan'20. On yearly basis, sourcing dropped by 38% in Feb'20 as against 2.85 MnT in Feb'19.

Sourcing from Odisha down marginally in Jan'20
The steelmaker procured 294,589 MnT iron ore from Odisha based miners in Feb'20, as compared to 297,636MT in Jan'20.

As per market sources report to SteelMint, Odisha iron ore bookings have minimized amid concerns over material delivery by 31st Mar 2020. Also, Few major miners had already finished their EC limit, rendering fall in sourcing by the miner.

Sourcing from NMDC (C.G.) increased in Feb'20
JSW Steel (Dolvi) sourcing from NMDC increased by 8% to 66 rakes (0.25 MnT) in Feb'20 against 61 rakes (0.23 MnT) in Jan'20.

NMDC Ltd lowered iron ore prices last weekend (14th Mar'20). Prices of baila fines and lump have been reduced by INR 50/MT and DR CLO by INR 60/MT.

JSW iron ore purchases from Karnataka e-auction down 3% in Feb'20
JSW Steel's iron ore purchases from Karnataka e-auctions decreased by 3% to 1.22 MnT in Feb'20 compared to 1.26 MnT in Jan'20.

Out of 1.26 MnT iron ore sourced by JSW in Feb'20, Vedanta supplied 0.40 MnT down 25% as against 0.54 MnT a month before in Jan'20. NMDC supplied 0.44 MnT up 33% as against 0.33 MnT in Jan'20.

JSW Steel imports continued to remain nil for the month
JSW Steel imports witnessed nil for the ninth consecutive month in Feb'20. Monthly average global iron ore fines (Fe 62%) price stood at USD 86.5/MT, CFR China in Feb'20

JSW Steel Iron Ore Sourcing in Feb'20 & Jan'20

Source: SteelMint,
Quantity in MT
Provisional Data

In Odisha iron ore and manganese mine block auction 2020, JSW Steel has 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.