JSW Steel’s wire rod production from its flagship Vijayanagar plant rose a sharp 72% in the financial year 2021-22 (FY22) to 1.11 million tonnes (mnt) from 0.64 mnt seen in FY21, as per data available with SteelMint. Pellets production too increased by 58% to 11.11 mnt in the just-gone by fiscal against 7.04 mnt in FY21.
TMT production dropped to 1.20 mnt against 1.27 mnt in the period under review.
Reason for increased pellets and wire rods production:
Pellets: Production increased after the commissioning of JSW Steel’s third pellet plant.
India’s total pellets production in FY22 was at 77.24 mnt as per SteelMint data. JSW Steel’s share in this pie is around 14%.
Wire rods: With the start of the second wire rod mill at the flagship works, production of the same has increased.
Wire rod sales too were up y-o-y in FY22. Domestic sales rose 37% to 0.60 mnt while exports almost trebled to 0.53 mnt.
India’s total wire rods export in FY22 was at 1.20 mnt. JSW Steel’s share in this is 44%, as per data available with SteelMint.
Sales rise m-o-m, y-o-y in March
Meanwhile, in March 2022, sales from the Vijayanagar plant, both domestic and exports, rose almost 13% m-o-m to over 1 mnt and 4% y-o-y. Domestic sales in March rose almost 14% to 0.84 mnt while exports were up 10% to 0.20 mnt.
Total sales from the plant in FY22 amounted to 10.65 mnt, up 6% compared to 10.03 mnt in FY21. Export sales dipped 6%in FY22 to around 3 mnt last fiscal against almost 3.10 mnt in FY21. Domestic sales rose 11% to around 8 mnt (7 mnt) in this period.
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