IRON and STEEL
Dispatches of Chrome Ore by Odisha miners have increased by almost 8% in May’19 against Apr’19. TATA Steel remained the largest miner to dispatch 142,407MT of Chrome Ore in May’19 which is 37% high as compared to the previous month.
TATA Steel held 20% of the total quantity for captive use. Meanwhile, the 17,480MT quantity was dispatched to T S Alloys. Dispatches were significantly high for T S Alloys, Balasore Alloys, and Tirumala Balaji Alloys.
OMC recorded a fall in total dispatches of Chrome Ore by 10% with a total quantity of dispatch as 67,974MT in May’19. Jindal Stainless and Visa Steel were the two major companies to buy OMC Chrome Ore. Jindal Stainless accounted for 34% of the total OMC Chrome ore dispatches with 22,765MT quantity. Visa Steel accounted for 20% of the total OMC Chrome ore dispatches in May’19 with 13,877MT quantity. Dispatches for Jindal stainless and Visa Steel were increased in May’19 by 6% and 50% respectively.
Balasore Alloys used up the entire quantity of 23,787 MT of Ores, for captive use, which was comparatively low by 17% in May’19 with respect to the previous month. Meanwhile, dispatches from IMFA were also low by 25% M-o-M. Misirlal Mines dispatched a total quantity of 10,525MT in May’19 which is low by 25% as compared to Apr’19. Misirlal Mines, IMFA and FACOR, they all used their whole quantity for captive use. B.C. Mohanty and Sons dispatched 8,193MT in May’19 out of which 4,905MT was used for Captive use.
SteelMint assessed that the decline in dispatches was a result of the lackluster Ferro Chrome Market. As compared to the previous year the total dispatches in May’19 from OMC remained stable.