India's Sail lifts 2019 iron ore output
State-controlled steel producer Steel Authority of India (Sail) increased iron ore output by 5.25pc to around 22mn t in 2019, a record high for the company.
Sail produced 14.52mn t of fines and 7.48mn t of lump in 2019. Iron ore output from the company's captive mines in the eastern states of Jharkhand and Odisha feeds Sail's steel plants.
The company is India's second-largest iron ore producer, after state-owned iron ore mining company NMDC.
India recently allowed Sail to sell a portion of its iron ore output commercially for the 2019-20 and 2020-21 fiscal years, starting on 1 April, in light of potential supply disruptions as leases of 36 mines in India expire in March 2020. Sail will be allowed to sell 7mn t ore in 2019-20.
Sail has offered iron ore cargoes via auctions since the end of November although no details are available on Fe grades offered or sale volumes. Sub-62pc Fe grades typically do not have many takers in India, as mills and pellet producers prefer high-grade fines and lump.
By Prasenjit Bhattacharya
source: Argus Media
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