Essar Steel’s Pellet Production Up by 89% in Q2 FY17

Company’s pellet production at 4.45 MnT in H1 FY17, up by 74% Y-o-Y.

Essar Steel – an integrated steelmaker with steel making capacity of 10 MnT pa has registered 89% Y-o-Y growth in its quarterly pellet production. Its pellet production has increased from 1.28 MnT in Q2 FY16 to 2.43 MnT in Q2 FY17.

However comparing on quarterly basis (i.e. compared to Q1 FY17) growth of 20% can be noticed. In Q1 FY17, Essar Steel produced 2.02 MnT pellets.

In H1 FY17, Essar Steel’s pellet production stood at 4.45 MnT. Compared to the same period last fiscal, production figure is higher by 74%.

Essar Steel’s Pellet Production: FY17 vs FY16

Qty in MnT
Source: Company reports

The steel maker raised its iron ore sourcing from 2.59 MnT in Q1 FY17 to 2.94 MnT in Q2 FY17.

Essar Steel’s pellet exports increases significantly in Q2 FY17 – According to the customs data maintained with SteelMint, Essar Steel exported 0.43 MnT pellets to China and Japan in Q2 FY17. The company had exported 0.05 MnT pellets to China in Q1 FY17.