JSW crude steel output grows 2% to 13.9 LT in Nov

Bengaluru: Sajjan Jindal-led JSW Steel on Wednesday said its crude steel output grew 2 percent to 13.90 lakh tonnes (LT) during November this year.

The company had produced 13.62 LT crude steel in November 2017, it said in a statement.

It has registered a fall of 5 percent in the production of flat-rolled products to 9.15 LT as against 9.59 LT in the same month last year.

However, the company registered a 17 percent growth in the output of its long rolled products at 3.48 LT in November as compared to 2.99 LT in the year-ago month, JSW Steel said.

Last week, rating agency Icra had said that domestic flat steel manufacturers may have to brace for a downward revision in prices, as the threat of cheap imports into India in near-term has increased.

Domestic flat steel prices are likely to face temporary pressures from cheaper imports, it had said in a research report.

JSW Steel is a part of the diversified USD 13 billion JSW Group, which has a presence in steel, energy, infrastructure, cement, ventures and sports. It is the leading integrated steel company with an installed steel-making capacity of 18 million tonnes per annum (MTPA) in India.

The company’s Vijayanagar plant in Karnataka is the largest single location steel producing facility in the country with a capacity of 12 MTPA.