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JSW Steel becomes largest buyer of NMDC iron ore in Karnataka -The 20th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
9/3/2018 不銹鋼展-不銹鋼展會-Stainless Steel Exhibition |
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Business Standard reported that after a gap of three months, Sajjan Jindal led JSW Steel has again become the largest buyer of NMDC iron ore in Karnataka. The steel producer had curtailed its off take from the state-owned miner due to quality issues, saying the price at which the ore was being offered was not justified. Mr Seshagiri Rao, joint managing director and group chief financial officer, told Business Standard that “We had never stopped buying from NMDC. But now we are buying at previous levels.”
Mr Rao said the miner made some price correction and that has translated in cost reduction to some extent, but overall cost continues to remain high. He refrained from quantifying the amount of benefit. He said that “We have been representing to them that there are problems in overall pricing in Karnataka. So they (NMDC) have done some corrections, but they have a long way to go. We are not okay with the current price levels but there is no option. We need Karnataka iron ore and it is not possible to source 100 per cent from outside.”
The company was said to be importing iron ore and also buying from Odisha for INR 4,000-4,500 per tonne, as against from Karnataka for INR 3,000 per tonne.
不銹鋼展-2019第二十屆廣州國際不銹鋼工業展-效果最好的不銹鋼展會-The 20th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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