India: JSW Finished Steel Output Increases in Oct’19

JSW Steel India’s largest private steel producer has released its monthly steel output results today for Oct’19. As per the press release of Oct’19, the company’s long and flat steel output reported up and crude steel output moved down marginally in Oct ’19.

Company’s long steel production increases in Oct’19- The company’s long steel output surged by 21% and stood at 0.258 MnT in Oct’19, which was 0.213 MnT a month ago.

As per data maintained with SteelMint, monthly average Rebar prices for 12 mm in the secondary market was around INR 34,275/MT (ex-Mumbai) in Oct’19 as against INR 34,575/MT (ex-Mumbai) in Sep’19. Prices mentioned above are basic and extra GST@18% is applicable. However, Indian mills have raised prices by around INR 1000/MT in Nov’19.

However, the long steel output plunged by 25% on a yearly premise in Oct’19 as compared to 0.346 MnT in Oct’ 18.

Company’s flat steel output up in Oct’19- The company’s flat steel production stood at 0.977 MnT up by 3% M-o-M basis in Oct’19 in contrast with 0.951 MnT in Sep’19.

As per data maintained with SteelMint, on an average basis domestic HRC (2.5-8mm, IS2062) price was assessed around INR 34,625/MT (Ex-Mumbai) in Oct’19 against INR 35,562/MT (Ex-Mumbai) in Sep’ 19. Prices mentioned above are basic and extra GST@18% is applicable.

Meanwhile, the company rolled over flat steel prices in Oct’19 over subdued buying in the domestic market. However, the company raised flat steel prices by INR 500-750/MT in Nov’19.

On a yearly premise, the same was marginally down by 3% in Oct’19, over 1.011 MnT in Oct’18.

Company’s crude steel output inched down in Oct ’19- JSW crude steel output moved down marginally by 1% and stood at 1.254 MnT in Oct’19 in comparison with 1.27 MnT in the preceding month.

However, the same declined by 13% on a yearly premise in Oct’19 as against 1.447 MnT in Oct’ 18.

Quantity in MnT
Source: SteelMint Research