ACCOUNT PROFILE

India's JSW Steel posts 5pc output rise in August

Posted on 08 September 2021

Indian private-sector producer JSW Steel's crude steel production rose by 4.6pc on the year in August, although output remained unchanged from the previous month.

The company's crude steel output stood at 1.38mn t and production of long-rolled products rose 30pc to 301,000t. But production of flat-rolled products dipped by 8.2pc to 899,000t on the year because of a continuing planned shutdown of one of the converters at Vijayanagar works.

A lower spread of Covid-19 infections in the country has supported demand for steel, although weakness arising from the monsoon season has kept consumption subdued.

JSW's average capacity utilisation in August remained at 92pc, the same as the previous month, although output of flat and long-rolled products eased marginally on the month.

The Argus domestic India hot-rolled coil (HRC) index stood at 65,000 rupees/t ($885.62/t) on 3 September, up by 67pc on the year, while the Argus cfr Asean HRC index was at $879/t yesterday, up by 64pc from a year earlier.

The company set a target last month to cut its carbon emissions by 23pc in 2030 compared to last year, as part of a growing push to reduce steel sector emissions.

Source : Argus