Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

JSW’s August crude steel production slides to 1.377mn mt, down by 0.36pc from July, but up by 5pc from a year ago. Average capacity utilization in August was similar to July at 92pc.


The steelmaker’s flat steel production continued to decline in August amid a planned shutdown of a converter at Vijaynagar works. Flat steel output decreased to 899,000mt, down by 8pc from a year ago and down by 3.7pc from July.


In August, long steel production was up by 30pc from a year ago at 301,000mt, while down by 1.6pc from July. 


Steel demand in the domestic market has subdued in Q2, but the company’s exports have capacity utilization in the quarter. In July exports were 1.5mn mt. However, port congestions and the tight availability of empty containers are posing a challenge for exporters. 


Surrenders Gonua block

JSW Steel has surrendered the Gonua iron ore block, in Odisha. The company had won the mining license for the block at a premium of 132pc. The mine has an estimated reserve of 118mn mt.  


On Aug 11, the company had sent a notice to the Director of Mines, expressing its intent to surrender the mine, as reported by Davis Index. JSW cited low-grade ore and logistics issues as reasons for the surrender.

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