India: JSW Long Steel Output Up 9% in FY19

JSW Steel, India's largest private steel producer has released its operational performance results today for FY18-19. As per results company’s long steel and flat steel output witnessed growth in FY19. With this the company achieved 99.6% of production guidance of 16.75 MnT.

Company’s long Steel output rose by 9% in FY19- JSW long steel output increased significantly by 9% in FY’19 (Apr-Mar) to 3.87 MnT against 3.56 MnT in FY’18. Spike in demand from key user industries like construction and infrastructure boosted demand for long steel in India.

Thus as per SteelMint assessment on an average basis, trade reference prices of long steel is hovering at INR 42,400/MT (ex-Mumbai) in FY19 against INR 37,000/MT (ex-Mumbai) in FY18. Price mentioned above are basic and GST extra @18% is applicable.

Whereas on yearly basis the long steel production slide down by 7% to 0.99 MnT in Q4 FY’19 (Jan-Mar) in comparison to 1.07 MnT in Q4 FY’18.

On quarterly basis the same went down by 5% in Q4 FY’19 as compared to 1.04 MnT in Q3 FY’19 (Oct-Dec).

Company’ crude steel production up 3% in FY19- JSW Steel registered 3% growth in crude steel output in FY19 (Apr-Mar) to 16.69 MnT in comparison to 16.27 MnT in previous fiscal.

On yearly premises the output in Q4 FY’19 (Jan-Mar) stood at 4.17 MnT, marginally down by 3% against 4.31 MnT in Q4 FY’18.

Whereas the production in Q4 FY’19 inched down by 1% Q-o-Q basis as compared to 4.23 MnT in Q3 FY’19 (Oct-Dec).

Company’S Flat Steel output up by 3% in FY19- Flat steel production registered an increase by 3% in FY19 (Apr-Mar) to 11.74 MnT which was 11.44 MnT in FY’18 (Apr-Mar).

As per SteelMint assessment trade reference prices of domestic HRC (IS 2062, 2.5-8mm) stood around INR 44,500/MT (ex-Mumbai) in FY19 which was INR 39,000/MT in FY18 (ex-Mumbai).Price mentioned above are basic and GST extra @18% is applicable.

Higher steel prices in domestic market with improved demand pushed company's flat steel output last fiscal.

Meanwhile on Y-o-Y basis in Q4 FY’19(Jan-Mar) flat steel output stood at 3.01 MnT, inched up by 1% over 2.98 MnT in the same quarter of previous fiscal year.

Meanwhile the production of flat steel increased by 4% Q-o-Q basis in Q4 FY’19 as compared to 2.9 MnT in the preceding quarter.