JSW Steel: Iron Ore Sourcing Down 17% in Dec’18
JSW Steel - India's largest steel maker recorded iron ore sourcing at 2.31 MnT in Dec'18. The total sourcing witnessed 17% fall M-o-M as against 2.77 MnT in Nov'18. On yearly basis, sourcing dropped 27% as against 3.17 MnT in Dec’17.
The miners total sourcing for CY18 recorded at 29.93 MnT and crude steel production recorded at 16.84 MnT.
JSW iron ore sourcing down 10% in Q4CY18
JSW Steel iron ore sourcing dropped to 6.62 MnT in Q4 CY18, down 10% as against 7.36 MnT in Q3 CY18. However, the crude steel output increased for the last quarter CY18 at 4.23 MnT as compared to 4.18 MnT in Q3 CY18.
JSW Steel imports from Australia up 30% in Dec’18
JSW Steel imported 0.74 MnT iron ore from Australia, up 30% against 0.57 MnT in Nov'18. The company's import from Brazil dropped to half on monthly basis to 0.17 MnT. Perhaps NMDC Donimalai temporarily iron ore mine production suspension led the miner go for imports. According to sources report, iron ore operations are still on hold at NMDC's Donimalai mine.
The total imports for the month recorded at 0.91 MnT in Dec’18, stable on monthly basis.
JSW sourcing from Odisha stable in Dec’18
The steelmaker procured 0.16 MnT iron ore from Odisha based miners in Dec'18, stable M-o-M compared to Nov’18 sourcing.
Domestic Iron ore prices have dropped upto 34% in last 2 months on supply pressure. Fines prices have come down by 34% while lump prices have come down by 25%.
Sourcing from NMDC (C.G.) down 51% in Dec'18
JSW Steel (Dolvi) sourcing from NMDC recorded at 21 rakes in Dec'18, down 51% as against 43 rakes a month before. However, NMDC C.G had slashed iron ore price between INR 450-785/MT for Jan’19, earlier in Dec’18 two successive price cut announced.
JSW iron ore purchases from Karnataka e-auction dip 25% in Dec’18
JSW Steel's iron ore purchases from Karnataka e-auctions stood at 1.16 MnT in Dec'18, down 25% compared to 1.54 MnT in Nov’18.
Out of 1.16 MnT iron ore sourced by JSW, NMDC supplied 0.30 MnT and contributed around 26% of total JSW sourcing from Karnataka e-auction.
NMDC slashed iron ore prices from its Karnatka e-auction by INR 320-330/MT for fines and INR 340-350/MT for Lumps in Jan’19.
source: SteelMint
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