India: JSW Crude Steel Output Drop 5% in Apr’19

JSW Steel, India's largest private steel producer has released its monthly crude steel output results today for Apr’19. Company’s long steel, flat steel and crude steel output witnessed decline on monthly basis in Apr’19.

Company’ crude steel production falls by 5% M-o-M in Apr’19- JSW crude steel output stood at 1.393 MnT in Apr’19, decreased by 5% against 1.463 MnT in Mar’19.

Whereas on yearly basis the company’s crude steel inched up by 2% in Apr’19 as compared to 1.361 MnT in the corresponding month of previous year.

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.

Company’s long steel output inch down by 2% M-o-M in Apr’19- On monthly basis JSW long steel output witnessed a marginal fall of 2% in Apr’19 to 0.336 MnT in comparison to 0.342 MnT in Mar’19.

Whereas on yearly premise the company’s long steel output increased by 4% in Apr’19 as compared to 0.324 MnT in Apr’18.

Meanwhile JSW long steel output increased significantly by 9% in FY’19 (Apr-Mar) to 3.87 MnT against 3.56 MnT in FY’18.

On an average basis domestic rebar stood at INR 41,175/MT (ex-Mumbai) in Apr’19 which was INR 41,600/MT (ex-Mumbai). Prices mentioned are basic and extra GS @18% is applicable.

Company’s flat Steel output fell by 9% M-o-M in Apr’19- On monthly premise JSW flat steel output slumped by 9% in Apr’19 and stood at 0.953 MnT as compared to 1.05 MnT in previous month.

On yearly basis the company’s flat steel output inched down by 1% in Apr’19 which was 0.967 MnT in Apr’18.

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).

Indian major steel mills raised HRC prices by INR 500/MT for April deliveries. However ongoing elections, subdued trades and cheaper import bookings resulted to domestic HRC prices under pressure.

On an average basis domestic HRC (2.5-8mm,IS 2062) prices stood around INR 42,300/Mt (ex-Mumbai) which was INR 42,800/MT (ex-Mumbai). Prices mentioned are basic and extra GS @18% is applicable.