JSW’s crude steel output down 30.2 percent in Q1 FY 2020-21

JSW’s crude steel output down 30.2 percent in Q1 FY 2020-21

Posted on by admin

JSW Steel, one of the largest Indian steelmakers, produced 2.96 million mt of crude steel in the first quarter ended June 30 of the financial year 2020-21, decreasing by 30.2 percent compared to 4.24 million mt recorded in the corresponding quarter of the previous financial year and down by 25.4 percent from 3.97 million mt recorded in the previous quarter.

In addition, during the given period the company produced 2.05 million mt of flat rolled products, decreasing by 29.5 percent, while it produced 450,000 mt of long rolled products, down by 57.1 percent, both year on year.

JSW stated that its average capacity utilization decreased to 76 percent in June due to lower production at Vijayanagar amid rising coronavirus cases.

The company also noted that it has started mining operations at its four iron ore blocks at Odisha from July 1 and that these mines have more than one billion mt of reserves in total. JSW expects these mines to meet a majority of its iron ore requirements.

Leave a Reply

Your email address will not be published. Required fields are marked *