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Price volatility puts steel makers in a fix over viability of captive ore

While Tata Steel believes procuring via auction is better, Sajjan Jindal's JSW Steel is going all out to bid for mines in order to have captive ore resource for backward integration

iron ore mining, mining, iron ore

Fluctuating iron ore prices amid growing demand for steel in the domestic market has led to a dilemma among primary domestic steel producers on whether or not to have captive iron ore resources. While Tata Steel, the country’s oldest steel producer, is of the view that procuring raw material via auction is a better option, Sajjan Jindal-led JSW Steel is going all out to bid for mines in order to have captive ore resource which can help company strengthen its backward integration. “In an auction, one (the company) has an option to choose the kind of material (iron ...