India: JSPL’s pellet production falls over 10%, y-o-y, in Q1FY’23

Jindal Steel and Power Ltd (JSPL) reported total pellet production at 1.92 mnt, down 11% y-o-y, in Q1FY’23 as against 2.16 mnt in Q1FY’22. Production decreased due to negligible external sales. On a quarterly basis, output inched down by 3% compared to 1.98 mnt in Q4FY’22. India’s pellet-making capacity has expanded rapidly. Latest SteelMint data shows that the country’s pellet production capacity has crossed 120 mnt.