India: JSW Steel Iron Ore Sourcing Fell 21% in Sep’19

JSW Steel- India's second largest private steel maker total iron ore sourcing recorded at 1.33 MnT in Sep'19. The sourcing witnessed 21% drop M-o-M as against 1.69 MnT in Aug'19. On yearly basis, sourcing fell 42% in Sep'19 as against 2.29 MnT in Sep'18.

JSW Steel imports recorded nil for the month

JSW Steel imports witnessed nil for fourth consecutive month in Sep’19. Indian iron ore imports have witnessed nil amid high global iron ore prices. Monthly average global iron ore fines (Fe 62%) prices in Sep’19 witnessed at USD 93/MT, CFR China.

Sourcing from Odisha stable in Sep'19

The steelmaker procured 0.29 MnT iron ore from Odisha based miners in Sep'19, stable as compared to 0.30 MnT in Aug’19. Sourcing from Odisha in line with last month sourcing.

Sourcing from NMDC (C.G.) up slightly in Sep’19

The miner sourced 14 rakes of iron ore from NMDC for the month of Sep’19, up against 13 rakes a month ago. The sourcing stood slightly up amid price drop by the miner in Sep’19. NMDC reduced prices of iron ore fines and lumps by INR 200/MT and by INR 230/MT in DR-CLO and by INR 180/MT in ROM. Prior to this the company had lowered prices by same quantum on 21 Aug'19.

JSW iron ore purchases from Karnataka e-auction down 27% in Sep’19

JSW Steel’s iron ore purchases from Karnataka e-auctions decreased significantly by 27% to 0.98 MnT in Sept'19 compared to 1.34 MnT in Aug'19.

Out of 0.98 MnT iron ore sourced by JSW, NMDC was the largest iron ore supplier with 0.28 MnT down 35% as against 0.44 MnT last month and thus contributed around 29% of total JSW sourcing.

Vedanta turns out to be the second-largest supplier with 0.27 MnT, decreased sharply by around two-times against at 0.52MnT last month. The Company’s iron ore sourcing from other private mines stood at 0.42 MnT.

JSW Steel Iron Ore Sourcing in Sep'19 & Aug’19