JSW Crude Steel Output Up by 4% M-o-M in May’19

JSW Steel, India’s largest private steel producer has released its monthly crude steel output results today for May’19.Company recorded growth and achieved positive numbers in its flat & long steel along with crude steel output in month of May’19.

Company’s crude steel production increase by 4% M-o-M in May’19- JSW’s crude steel output stood at 1.453 MnT in May’19, moved up by 4% against 1.393 MnT in Apr’19.

Meanwhile on yearly basis company’s crude steel output witnessed an increase of 4% in May’19 in comparison with 1.399 MnT in May’18.

Company’s long steel output up by 7% M-o-M in May’19- On monthly premise JSW long steel output witnessed an increase of 7% 0.358 MnT in May’19 which was 0.336 MnT in preceding month.

Meanwhile JSW registered a hike by 9% Y-o-Y basis in its long steel output in May’19 as against 0.329 MnT in May’18.

Monthly average Rebar prices for 12 mm in secondary market was around INR 35,940/MT (ex-Mumbai) in May’19 against INR 36,950/MT (ex-Mumbai) in April’19.Prices mentioned above are basic and extra GST@18% is applicable.

Company’s flat steel output grew by 7% M-o-M in May’19- JSW Steel’s flat steel output registered a growth by 7% to 1.017 MnT in May’19 as compared to 0.953 MnT in previous month.

Whereas on yearly premise the company’s flat steel output grew by 6% in May’19 which was 0.956 MnT in May’18.

On an average basis domestic HRC (2.5-8mm,IS2062) prices is assessed around INR 42,375/MT (Ex-Mumbai) in Apr’19 against INR 41,425/MT (Ex-Mumbai) in May’19.Prices mentioned above are basic and extra GST@18% is applicable.

Despite surge in production major Indian steel mills had rolled over HRC prices for May deliveries amid scheduled political elections, subdued demand and cheaper imports arriving from South Korea and Japan.This resulted to domestic HRC prices remained under pressure in month of May’19.

JSW Steel Production Figures in May’19

Source- Company Reports,SteelMint Research