JSW Steel’s crude steel production declined by 5pc to 1.24mn mt in July, while it improved 9pc from June. The company’s capacity utilisation rose to 83pc in July compared to 76pc in June, according to the company’s release.
The company’s flat-rolled output fell by 4.1pc to 0.94mn mt from 0.98mn mt in the prior year period. Meanwhile, the output of long products fell by 22.6pc to 0.24mn mt from 0.31mn mt in July 2019.
| JSW Steel’s production in July (mn mt) | ||||
|---|---|---|---|---|
| Jul-20 | Jun-20 | Jul-19 | Change YoY | |
| Crude | 1.24 | 1.14 | 1.31 | -5.3% |
| Flats | 0.94 | 0.80 | 0.98 | -4.1% |
| Longs | 0.24 | 0.16 | 0.31 | -22.6% |
JSW Steel targets to produce 16mn mt steel in FY2020-21. The company has ramped up production at its Vijaynagar and Dolvi plants and banking on domestic demand in the upcoming quarters.
In Q1, JSW Steel produced 2.96mn mt crude steel as average capacity utilizattion dropped due to the COVID-19 pandemic-related lockdown.