By Our Correspondent
BARBIL/KOIRA/BHUBANESWAR: Odisha, India’s largest iron ore producing state, recorded merchant iron ore dispatches at 3.45 million tonnes (mn t) in Sept’21, down by 25% m-o-m against 4.58 mn t in Aug’21. The figures exclude movements for export and dispatches from captive mines of SAIL, JSW (Gonua and Narayanposhi), AM/NS India and Tata Steel but include dispatches from Sarda Mines, JSW Steel (Jajang and Nuagaon).
The dispatches continue to decline for the month due to limited buying interest. With lower pellet offers in the domestic market, preference for pellets stood on the higher side, compared to iron ore, on lower export realisation. In addition to it, monsoons also impacted production and, in turn, dispatches.
JSW Steel recorded the highest dispatches at 0.83 mn t in Sept’21 as against 0.86 mn t in Aug’21. OMC, the state-owned miner, recorded a 25% fall in dispatches to 0.58 mn t for Sept’21 as against 0.77 mnt in Aug’21 which could have been the outcome of subdued responses received in its past auctions.
Rungta Mines’ dispatches stood at 0.49 mn t for the month, down against 1.13 mn t in Aug’21. Dispatches of iron ore from Essel Mining increased sharply to 0.42 mn t in Sept’21, as compared to 0.14 mn t in Aug’21. The miner had lowered offers for iron ore by up to INR 1,600/t. Prices of lump ore were reduced by INR 1,000/t and that of fines by INR 700-1,600/t, towards end-Aug’21.
