India's JSW Steel faces shortage of iron ore supply
28 Oct 2020 12:18 reported by Hazel Chen
It was understood that India's JSW Steel was facing problems of iron ore supply. The company's joint managing director indicated that there were two main reasons for the shortage of iron ore supply.
First of the reasons was the decline in iron ore output in Odisha, only five of the 19 iron ore projects, whose mining rights have been auctioned, were currently in production. Moreover, affected by the epidemic, these five iron mines in operation were also unable to increase production capacity.
The other reason for the shortage of iron ore supply was because of the high-exports of iron ore in overseas markets. According to the statistics, India’s iron ore output from April to July fell by 50% year-on-year, but iron ore exports increased by 63% during the same period.
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