Godawari Power and Ispat’s (GPIL) iron ore pellet production dipped by 6pc to 544,500 in Q3 FY21 ending December from the prior year. Sales volume fell by 6pc to 359,708mt in the same period, according to its press release.
With increased domestic demand, the company shifted its focus on iron ore pellet sales in the domestic market and reduced exports. A majority of its pellet production is sold in the domestic markets.
The company’s Sponge iron production increased by 17pc to 146,133mt in Q3 compared to the prior-year quarter but fell by 4pc from the preceding quarter.
Billet production increased by 10pc to 100,590mt from Q3 FY2020 but remained unchanged from the previous quarter.
HB Wire production was down by 25pc to 28,709mt from Q3 last year, while sales declined by 23pc in the same period.
Major highlights:
Pellet prices and demand in the domestic market remained healthy amid higher iron ore prices and a shortage of iron ore in Odisha. Pellet prices in India have hit a 10-year high and are at Rs11,800/mt for 64pc/ 63pc Fe content.
International iron ore prices have climbed from around $80/mt in April 2020 to $173/mt, reaching a nine-year high in January. Prices have softened from the peak to around $155-156/mt.
Production in MT:
| Q3FY21 | Q2FY21 | Q3FY20 | Q-o-Q | Y-o-Y | |
| Iron ore Mining | 4,82,389 | 4,19,657 | 4,49,554 | 15% | 7% |
| Iron ore- Pellets-GPIL | 5,44,500 | 6,17,300 | 5,77,350 | -12% | -6% |
| Iron ore- Pellets-ASL | 1,97,419 | 1,01,354 | 1,93,175 | 95% | 2% |
| Sponge Iron | 1,46,133 | 1,52,406 | 1,24,572 | -4% | 17% |
| Steel Billets | 1,00,590 | 1,00,660 | 91,785 | 0% | 10% |
| H.B Wires | 28,709 | 36,845 | 38,459 | -22% | -25% |