India: JSPL’s crude steel production increases in Q1 FY ’22

In Q1 FY ’22, steel major JSPL’s crude steel production increased to 2.3 mn t, as per media reports. The company has reportedly exported around 600,000 t of steel products during the period. Meanwhile, a sharp correction in international steel prices by around $70-80/t has led to domestic HRC prices coming under pressure. However, demand for steel plates and HRC remain firm, although construction demand has plummeted during the ongoing monsoon season.