JSW August crude steel production grew 5% on steady rise in long products output

Biznextindia : JSW steel, India’s 2nd largest steel producer by capacity, on Tuesday reported 5 per cent (YoY) growth in its August 2021 crude steel production at 1.37 million tonnes (MT) against 1.31 MT in August 2020. The average capacity utilization during the month was remained at 92%.

The shares of JSW Steel slipped 0.16 per cent to Rs.687 on the BSE in the opening trade on Tuesday.

During the month, production of Rolled products (Flat) dropped by 8 percent to 0.89 MT due to planned shutdown taken for one of the convertors at Vijayanagar Works.

Meanwhile, Production of Long Rolled products grow significantly by 30 per cent to .30 MT as compared to .23 MT in August 2020. The flat steel products are generally used in the white goods industry, while the long products are mostly used in the construction sector.