India’s primary steel producer JSPL’s standalone sales volume surged in August by 37pc to 682,000mt compared to prior-year period. Its productions increased by 18pc to 625,000mt in the same period.
On consolidated basis, company’s steel production (including pig iron) rose by 21pc to 825,000mt compared to prior-year while sales surged by 38pc to 836,000mt.
Company’s share in steel export was 42pc of the total sales volume. Its pellet plant based in Barbil (Odisha) has recorded best-ever production of 700,600mt in August, claim to be highest ever production since its inception. The company is operating at 85-90pc capacity utilisation.
VR Sharma, managing director of JSPL, said the company’s gas-based DRI plant, the Angul plant, achieved highest production with over 72pc of rated capacity in August.
He said the company is working towards reducing the overall debt of Rs150bn by 2023. The company’s export volume has come down significantly as domestic sales increased after the lockdown period. The company has set a target of Rs500bn turnover by 2023.
Steel Authority of India Limited (Sail)
The Steel Authority of India Limited (Sail) registered an increase in sales volume by 35pc or 1.43mn mt in August compared to prior-year period, of which domestic sales registered growth of 23pc and export’s an astounding 253pc.