India: JSW Long Steel Output Up 12% Y-o-Y in Q1 FY19

India’s largest steelmaker- JSW Steel have released their production results for Q1 FY19 today.

Company’s long steel output surge by 12% Y-o-Y in Q1 FY19 – Company’s long steel output surged by 12% to 0.93 MnT in Q1FY19 which was 0.83 MnT in Q1FY18. On quarterly average basis re-bar prices by primary producers stood at INR 44,500/MT(ex-Mumbai) in Q1FY19 against INR 34,700/MT (ex-Mumbai) in Q1FY18.

Thus prices have surged by 28% amid improved demand in domestic market owing to govt. backed construction projects

However, on quarterly basis long steel output fell  by 13% in Q1FY19 which was 1.07 MnT in Q4FY18.Although on monthly basis the same reduced by 16% to 0.277 MnT in June ‘18 against 0.329 MnT in May’18.

Company’s flat steel output Increases by 4% Y-o-Y in Q1FY19- JSW Steel’s flat steel output registered the growth of 4% to 2.87 MnT in Q1FY19 as compared to 2.76 MnT in Q1FY18. On quarterly average basis domestic HRC (2.5-8 mm IS2062) prices stood at INR 45,500/ MT (ex-Mumbai) in Q1 FY19 which was INR 40,000/MT (ex-Mumbai) in Q1 FY18.The prices mentioned above are basic and extra GST @ 18% will be applicable.

On quarterly basis the flat steel output went down by 4% against 2.98 MnT in Q4FY18.Similarly on monthly basis the flat steel output edge up by 1% to 0.96 MnT in Jun’18 against 0.95 MnT in May’18.

Company’s crude steel output rises by 5% in Q1FY19-JSW Steel’s crude steel output stood at 4.12 MnT moved up by 5% in Q1FY19 which was 3.91 MnT in Q1FY18. However on Q-o-Q basis company’s crude steel production fell by 4% in Q1FY19 as compared to 4.31MnT in Q4FY18.Also on monthly basis the same inched down by 1% in Jun’18 to 1.37 MnT against 1.39 MnT in May’18.

JSW Steel Production Analysis

Fig in MnT
Source-Company Reports,SteelMint Research