JSW Steel reported a growth of 47% in its monthly crude steel production by producing 9.91 lac tons in July 2013. The production includes all the three manufacturing units of the company located at Vijaynagar, Sale, and Dolvi respectively. It produced 7.96 lac tons of Flat steel witnessing a growth of 64%, while long steel grew by 31% producing 1.86 lac ton.
Its crude steel production for the same period last year was at 6.76 lac ton, while for flat steel and long steel it was at 4.85 lac ton and 1.42 lac ton respectively. It estimated production for July’12 for the products was at 8.87 lac ton crude steel, 6.93 lac ton flat steel and 1.42 lac ton long steel. The estimated amount was however for the purpose of comparison after effect of the Scheme of Amalgamation and Arrangement.
The capacity utilization at Vijaynagar was low because one of its Corex furnaces was shut down for relining and capacity enhancement. The furnace is expected to start production by the end of September 2013.
JSW is presently discussing with its client about price increase of its products following the steps of Essar steel which has increased their product prices by 1,000-1,200 per ton since August 1, 2013. Depreciating value of rupee and global flat steel price increase is bringing price rise in Indian steel market too.
JSW Steel Ltd, belonging to the JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The company is also in the race of bidding for Stemcor’s Indian assets worth about US$ 800 million.