 "JSW Steel hit over iron ore prices as Goa shuts down mining")
JSW Steel fell 2.4 percent on concerns a temporary suspension of mining activities in Goa which will impact domestic supply of iron ore.
JSW purchases most of its iron ore requirements from domestic miners and may face higher prices as a result.
“The suspension of iron ore mining in Goa, albeit temporary, “is likely to exacerbate the decline in Indian iron ore exports,” Deutsche Bank says in a note, and “provide an upside trigger to spot iron ore prices.”
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At 12.34 pm shares in JSW Steel are down 1.2 percent.
Reuters
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