JSW crude Steel production increased to 1 MnT in December FY14 as compare to 0.7 MnT same period, last year.
Company’s crude Steel production for Q3 FY14 was 3.2 MnT i.e. a growth of 52% in comparison to same period FY13. The Flat rolled product recorded a growth of 64% with a production of about 2.6 MnT as compare to 1.6 MnT in Q3 FY13.
Crude Steel attained production of 9 MnT in the first 9 months of FY14, recording a growth of 41% as compare to FY13 same period. Its Flat rolled products were up by 57%, by producing about 7.26 MnT compared to 4.63 MnT in the same period of last fiscal.
Contrastingly, the company’s Long rolled product witnessed a decline during the period under review. It reported a turn down of 1% for December as well as in first 9 months of FY 14. In addition , it recorded a decline of 9% in Q3 FY14.
In order to achieve its production target, JSW has increased the sourcing of Iron ore from outside Karnataka, other sources yet not revealed. It aims to produce about 12 MnT crude Steel in FY14 out of which 9 MnT is already produced in its first 9 months period. Now, it requires around 5 MnT of raw material for Q4 FY14. It can get hold of 4 MnT from the Karnataka’s Iron ore e-auctions. Still, it would bring the remaining from other sources.
JSW, a part of O P Jindal Group is one of the lowest cost Steel producers in the world. It is one of the largest producers and exporters of coated Flat Steel products in India.