Odisha: Iron Ore Production Stable in June’19
Odisha - India's largest iron ore producing state recorded production at 11.73 MnT stable on monthly basis, 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 2.05 MnT iron ore in June’19. The production recorded a decline of 12% against 2.33 MnT in May’19.
Essel Mining and Industries iron ore production for June’19 at 1.4 MnT, up 49% as compared to 0.94 MnT in May’19. 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 has recorded iron ore production at 1.09 MnT, stable M-o-M. Amongst captive miners, Tata Steel’s iron ore production stood at 1.23 MnT (down 6%) and SAIL at 0.92 MnT (down 7%) for June’19.
Odisha merchant miners kept iron ore prices unchanged in June after receiving decent bookings at the beginning of Jun’19. On the other side, India's domestic sponge and billet prices plunged amid weak market fundamentals.
Outlook - Odisha iron ore production is expected to come down in July amid monsoons.
source: SteelMint
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