India: Odisha Iron Ore Production Up 12% Y-o-Y During Apr-Feb’19

Odisha - India's largest iron ore producing state has recorded Feb'19 production at 10.03 MnT, down 5% M-o-M. During FY'19 (Apr-Feb) Odisha iron ore production has increased by 12% to 98.6 MnT as against 88.05 MnT in the same period last fiscal FY'18.

On yearly basis, Odisha iron ore production moved down sharply by 38% as against 7.28 MnT in Feb’18. According to the provisional data of Odisha Govt. maintained by SteelMint. The figures include the type of material - fines, lump, and concentrate.

Odisha based major merchant iron ore miner's decreased offers on bulk quantity purchase of fines in Jan19. Later in Feb'19 miners raised offers twice after Vale incident in Brazil following hike in the global and domestic prices for the month. Besides, many merchant miners in Odisha have utilized their EC limits for the year and are not seen actively offering material in the market.

Rungta Mines - India's largest private merchant miner produced 2.4 MnT iron ore from its mines in Odisha in Feb'19, up 5% M-o-M as against 2.29 MnT in Jan'19.

Tata iron ore production stood at 1.09 MnT (down 10%) and SAIL at 0.9 MnT (up 23% on monthly basis).

Iron ore production of state-owned miner- OMC decreased by 13% at 1.05 MnT for the month as against 1.2 MnT in Jan'19.