Indian largest steel producer JSW Steel has released its quarterly figures today.As per results company reported slump in its crude steel ,flat steel and long steel output in Q2FY20.
Company’s long steel output slashed by 22% Q-o-Q in Q2FY20- JSW long steel output declined significantly by 22% in Q2FY20 to 0.82 MnT as compared to 1.05 MnT in Q1.
However, the long steel output inched up by 2% to 1.87 MnT in (Apr-Sep) H1 FY20 over 1.84 MnT in the same period of FY19.
As per SteelMint price assessment on an average basis domestic Rebar prices of primary manufacturers stood at INR 36,200/MT (Ex-Mumbai) in Q2FY20 which was INR 40,600/MT in last quarter.Prices mentioned above are basic and extra GST@18% is applicable.
Company’s flat steel output slipped by 7% Q-o-Q in Q2FY’19- The company’s flat-rolled products output tumbled by 7% to 2.71 MnT in Q2FY20 as compared to 2.91 MnT in Q1.
Low buying appetite during monsoon season (Jul-Sep) coupled with the liquidity crunch and falling steel prices restricted buying activities this quarter.Thus,these factors led to curtailment in flat steel output in Q2FY20.
As per SteelMint price assessment on an average basis domestic HRC (IS2062,2.5-8mm) is hovering at INR 37,200/MT (ex-Mumbai) in Q2FY20 as compared to INR 41,300/MT (ex-Mumbai) in previous quarter.Prices mentioned above are basic and extra GST@18% is applicable.
Further, during the first half of FY20, flat steel output declined by 4% to 5.62 MnT as against 5.83 MnT in a similar time frame of FY19.
Company’s crude steel output down by 9% Q-o-Q in Q2FY20- JSW crude steel output declined by 9% to 3.84 MnT in Q2FY20 as compared to 4.24 MnT in the preceding quarter.
Meanwhile, crude steel production fell marginally by 3% to 8.08 MnT in H1FY20 (Apr-Sep) in comparison with 8.30 MnT in H1FY20.
JSW Production Figures
| Particulars | Q2 FY’20 |
Q1 FY’20 |
Q-o-Q (change in %) |
Q2 FY’19 |
Y-o-Y (Change in %) |
H1 FY’20 |
H1 FY’19 |
Change in % |
| Crude Steel | 3.84 | 4.24 | -9 | 4.18 | -8 | 8.08 | 8.30 | -3 |
| Flat Rolled Products | 2.71 | 2.91 | -7 | 2.96 | -8 | 5.62 | 5.83 | -4 |
| Long Products | 0.82 | 1.05 | -22 | 0.91 | -10 | 1.87 | 1.84 | 2 |
Source – Company reports, SteelMint Research
Leave a Reply