India’s integrated steel producer JSW Steel produced 16.06mn mt crude steel in the financial year 2019-2020 (FY2020) down by 4pc from 16.69mn mt in the prior year. JSW fell short of its revised production target of 16.50mn mt production for FY2020 because of the COVID-19 pandemic.
JSW produced 11.35mn mt of flat-rolled products and 3.72mn mt of long-rolled products in FY2020, down by 3pc and 4pc, respectively from the prior year.
In the fourth quarter (Q4, January to March), JSW produced 3.97mn mt steel. Production in the months of January and February was a percent higher than the prior year period, but due to lockdown measures imposed towards the end of March and the resultant slowdown in economic activity, JSW had to cut output across its plants. The company strives to resume operations at all sites when the government lifts the lockdown.
| JSW Steel production in Q4 (mn mt) | |||
| Q4 FY2020 | Q4 FY2019 | Change (%) | |
| Crude steel | 3.97 | 4.17 | -5% |
| Flat-rolled | 2.87 | 3.01 | -5% |
| Long-rolled | 0.95 | 0.99 | -4% |
JSW Steel has scaled down production and shuts downstream units to match its output to the lower demand environment in India and the overseas markets. The company has an installed capacity to produce 18mn mt steel annually.