Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
JSW Steel’s freight costs to rise
JSW Steel has informed that currently its blast furnace in its Bellary plant is operating at
80% utilisation levels while it is receiving iron ore supplies of ~40,000-50,000 tonnes per
day from Bellary (NMDC mine), Orissa and Chhattisgarh regions. With blanket ban on
mining in Chitradurga and Tumkur, JSW Steel will procure higher quantities of iron ore
from Orissa and Chhattisgarh, which would raise its freight costs. However, it is
challenging to estimate the extent of rise in freight costs currently. Although the stock has
declined significantly since the last week, we maintain our Neutral view on the stock until
further clarity on auction of iron ore inventory in Karnataka mine (on September 02,
2011).
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
JSW Steel’s freight costs to rise
JSW Steel has informed that currently its blast furnace in its Bellary plant is operating at
80% utilisation levels while it is receiving iron ore supplies of ~40,000-50,000 tonnes per
day from Bellary (NMDC mine), Orissa and Chhattisgarh regions. With blanket ban on
mining in Chitradurga and Tumkur, JSW Steel will procure higher quantities of iron ore
from Orissa and Chhattisgarh, which would raise its freight costs. However, it is
challenging to estimate the extent of rise in freight costs currently. Although the stock has
declined significantly since the last week, we maintain our Neutral view on the stock until
further clarity on auction of iron ore inventory in Karnataka mine (on September 02,
2011).
No comments:
Post a Comment