India: JSW Long Steel Output Drops 11% M-o-M in Jul’19
JSW Steel, India's largest private steel producer has released its monthly crude steel output results today for Jul'19. The company reported decline in its production numbers over dull demand and low buying prevailing in domestic market.
Company's long steel output down by 11% M-o-M in Jul'19- On monthly premise JSW long steel output tumbled by 11% to 0.316 MnT in Jul’19 which was 0.356 MnT in preceding month.
Meanwhile JSW registered an uptick by 3% Y-o-Y basis in its long steel output in Jul'19 as against 0.306 MnT in Jul'18.
Domestic rebar prices in secondary market fell sharply last month. SteelMint's monthly avg assessment for 12mm Rebar stood at INR 31,500/MT (ex-Mumbai) against INR 33,900/MT (ex-Mumbai) in June. Prices mentioned above are basic and extra GST@18% is applicable.
Company's crude steel production fell by 6% M-o-M in Jul'19- JSW's crude steel output stood at 1.317 MnT in Jul'19, declined by 6% against 1.4 MnT in Jun'19.
Meanwhile on yearly basis company's crude steel output witnessed a fall by 4% in Jun'19 in comparison with 1.378 MnT in Jul'18.
Company's flat steel output inch down by 3% M-o-M in Jul'19- JSW Steel's flat steel output marginally fell by 3% to 0.908 MnT in Jul'19 as compared to 0.94 MnT in previous month.
Whereas on yearly premise the company's flat steel output dropped by 8% in Jul'19 which was 0.986 MnT in Jul'18.
On an average basis domestic HRC prices (2.5-8mm,IS2062) as per SteelMint price assessment stood around INR 38,900/MT (ex-Mumbai) in Jul’19 which was INR 40,700/MT (ex-Mumbai) in Jun’19. Prices mentioned above are basic and extra GST@18% is applicable.
Thus bearish market sentiments and seasonally dull demand resulted to continual decline in domestic HRC prices in trade segement.
source: SteelMint
Top News
Six last month
Two last year
Copper price, stocks are being hammered as Trump tariff, China worries mount
China, Indonesia seal $10 billion in deals focused on green energy and tech
Codelco copper production rises in September, Escondida dips
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Top gold ETF sees largest weekly outflow since 2022 on Trump win
US judge narrows investor lawsuit against Rio Tinto over Mongolian mine
Japan, Peru to agree on cooperation in mineral mining technology
Ahead of Rio Tinto buyout, Arcadium’s profit dips on sliding lithium prices
MinRes halts Bald Hill mine amid lithium price rout
Orano warns of financial problems at Niger uranium plant
Zimbabwe lithium miners want royalties to be linked to prices
Indonesia’s Jan-Oct nickel ore imports surge by 50 times from year ago
Hedge funds slash bullish wagers on gold over Trump election win
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Lithium in nascent rebound, but long-term outlook is bleak
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
Orano warns of financial problems at Niger uranium plant
Zimbabwe lithium miners want royalties to be linked to prices
Indonesia’s Jan-Oct nickel ore imports surge by 50 times from year ago
Hedge funds slash bullish wagers on gold over Trump election win
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says