India: JSW Steel Iron Ore Sourcing Down 36% in May'19

JSW Steel - India's largest steel maker recorded total iron ore sourcing at 1.73 MnT in May'19. The sourcing witnessed 36% drop M-o-M as against 2.71 MnT in Apr'19. On yearly basis, sourcing fell 42% in May'19 as against 2.98 MnT in May'18.

Sourcing from Odisha up 6% in May'19

The steelmaker procured 0.28 MnT iron ore from Odisha based miners in May'19, up 6% compared to Apr'19 sourcing at 0.26 MnT. Odisha based major miners raised prices twice in the month of May'19 each time by around INR 300/MT.

Sourcing from NMDC (C.G.) picked up in May'19

JSW Steel (Dolvi) sourcing from NMDC recorded at 0.19 in May'19, up significantly as against 0.08 MnT a month before. Miner had rolled over in price for May'19. Prices of Baila lump ore stood at INR 2,850/WMT and Baila iron ore fines at INR 2,610/WMT. FoR prices mentioned are excluding Royalty, DMF, NMET and other taxes. Prior to this the miner had cut iron ore fines and lump prices by INR 150/MT in April.

JSW iron ore purchases from Karnataka e-auction fell for the month

JSW Steel's iron ore purchases from Karnataka e-auctions dropped to 1.08 MnT in May'19 as against 2.18 MnT in Apr'19.

Out of the total 1.08 MnT sourced by JSW, NMDC supplies stood at 0.65 MnT, out of which 0.50 MnT were fines and 0.15 MnT lumps.

Other major suppliers included B. Rudra Gouda at 0.13 MnT and Narayan Mines Private Limited at 0.1 MnT.

JSW Steel imports marked stable for the month

JSW Steel imports recorded at 185,000 MT in May'19 from Brazil. The steel maker recorded stability in imports as against 188,500 MT a month ago. Imports from Brazil picked up however, it dropped to nil from Australia and South Africa.