JSW crude steel production up 10% in May

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Biznextindia : JSW steel, India’s 2nd largest steel producer by capacity, on Thursday reported 10 per cent (YoY) growth in its May 2021 crude steel production at 1.36 million tonnes (MT) against 1.24 MT in May 2020. However, the production has remained almost flat as compared to the April 2021 production of 1.37 MT.

The shares of JSW Steel up 1.73 per cent to Rs.709.95 on the NSE at 10.00 am Thursday.

The average capacity utilization remained at 91% in May’21 as the Liquid Oxygen supplies were over 30000 tonnes for medical purposesin May’21 from the Steel Complexes of the Company across India, as against over 20000 tonnes in April’21.

During the month, the production of Rolled products (Flat) grew by 10 per cent (YoY) to.99 MT from .90 MT in May 2020.  Meanwhile, Production of Long Rolled products grow significantly by 55 per cent to .30 MT as compared to .20 MT in Mat 2020.

The flat steel products are generally used in the white goods industry, while the long products are mostly used in the construction sector.

 

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