NEWS
IRON and STEEL  

India - JSW Long Steel Output Jumps in Q1FY20

JSW Steel, India's largest private steel producer has released its quarterly crude steel output results today.As per results company’s long steel output witness growth and flat steel output registered decline in first quarter of FY20 against previous quarter.

Company’s long Steel output increases by 6% Q-o-Q in Q1FY20- JSW long steel output increased significantly in Q1FY20 (Apr-June) to 1.05 MnT up by 6% as compared to 0.99 MnT in Q4.

As per SteelMint assessment on an average basis, trade reference prices of Rebar (12 mm) is hovering at INR 40,700/MT (ex-Mumbai) in Apr-June quarter against INR 40,700/MT (ex-Mumbai) in Jan-Mar quarter. Price mentioned above are basic and GST extra @18% is applicable.

Meanwhile on yearly basis the long steel output surged by 13% in Q1FY20 as compared to 0.93 MnT in same time frame of previous year.

Company’ crude steel production inch up by 2% Q-o-Q in FY19- JSW crude steel output inched up by 2% to 4.24 MnT in Q1FY20 as compared to 4.17 MnT in last quarter.

On yearly premise company’s crude steel output reported increase of 3% in first quarter of FY20 against 4.12 MnT similar quarter of previous year.

Company’s Flat Steel output decrease 3% Q-o-Q in Q1FY20- Flat steel production registered decreased by 3% on quarterly basis in Q1FY20 to 2.91 MnT which was 3.01 MnT in Q4FY19.

SteelMint assessment trade reference prices of domestic HRC (IS 2062, 2.5-8mm) on an average basis stood at around INR 41,400/MT (ex-Mumbai) in Apr-June which was INR 42,100/MT (ex-Mumbai) in Jan-Mar'19. Price mentioned above are basic and GST extra @18% is applicable.

Thus sluggish demand and bearish market sentiments pulled down flat steel prices in domestic market. This in turn reduces company’s crude steel output in first quarter of FY20. Meanwhile on Y-o-Y basis the same inched up by 1% in Q1FY20 as compared to 2.87 MnT in Q4FY19.

News No: 5119
Date: 2019/07/11 - 09:30
News Source: SteelMint

India  JSW Long Steel  domestic market  SteelMint  HRC 

Comments:

Leave a Comment:

   
   
   
 

Northwest European HRC mills hike offers

Northwest European steelmakers are hiking their hot-rolled coil (HRC) offers in response to strengthening Italian prices, and to use as leverage in fraught contractual negotiations.
 

EU HRC: Northern mills hike offers as Italy firms

Domestic Italian hot-rolled coil (HRC) prices continued to firm today, spurred further by yesterday's news that steelmaker ArcelorMittal will ramp down all its Ilva blast furnaces by 15 January.
 

EU quotas, weak prices impact trade flows

Drops in steel prices and quota exhaustion changed the trade flows for certain products in and out of the EU in September, Eurofer data show.
 

US steel output shrinks import gap in tariffs' wake

US steel production has risen to fill the gap left by falling imports in the wake of imposition of Section 232 tariffs in March 2018, yet increased output and slowing global growth are weighing on prices and the US industry.
 

India steel: Coated prices flat on slow buying

India's coated steel prices remained flat this week, as demand stayed slow after the festive season ended in October.
 

Indian PE growth on hold: Gail

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.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners