IRON and STEEL
Jindal Steel and Power Limited (JSPL), one of the India’s leading steel producer has released its steel output and sales figures today for Q1 (Apr-Jun) FY’20 results.
Company’s crude steel output up by 16% in Q1 FY20- JSPL’s steel output from Indian operations increased by 16% in Q1 FY’20 to 1.57 MnT which was 1.35 MnT in Q1 FY’19.
As per company reports, India’s largest Blast Furnace at JSPL Angul Odisha has produced its highest ever Hot Metal production of 10,845 MT for a single day on 2nd July 2019. It is also reported that this is the ever highest production produced by any of the BFs in India.
Company’s sales volume up by 16% in Q1 FY’20- JSPL sales volumes jumped by 16% in Q1 FY’20 to 1.51 MnT against 1.3 MnT in Q1 FY’19.
JSPL (India) Crude Steel Output and Sales Figures in Q1 FY’20
India's coated steel prices remained flat this week, as demand stayed slow after the festive season ended in October.
India's polyethylene (PE) demand is expected to remain at around 8pc until 2021, before being spurred on by economic and infrastructural growth, according to state-controlled gas distributor and petrochemical producer Gail.
India's steel demand growth will remain stable in the October 2019-March 2020 period at around 5pc, forecasts domestic private-sector producer JSW Steel, amid reviving sales for the construction, solar appliances and pipe sectors.
Indian coking coal imports moving through 12 key state-controlled ports during April-October have contracted amid weakness in the steel sector.
Karnataka iron ore e-auction sales volume has rebounded for the month and registered an increase of 48% in Oct’19. Total iron ore allotted quantity was recorded at 2.82 MnT in Oct’19 compared to 1.91 MnT in Sept’19. This month sales stood the second-highest in this fiscal year after April’19 sales at 2.9 MnT.
Indian Finish long steel exports surged by 47.7% Q-o-Q in Q2 FY’20, as per the customs data maintained with SteelMint. Finish long steel export was recorded at 309,641 MT in Q2 FY’20 against 209,612 MT in Q1 FY’20.