India’s largest private steel manufacturer JSW Steel has released its monthly steel output results today for Jan’20. As per the company’s latest press release, long steel output moved up. However, flat steel and crude steel output fell in Jan’20.
JSW’s long steel output up by 6% in Jan’20- The company’s long steel output stood at 0.342 MnT in Jan’20 increased by 6% on a monthly premise over 0.323 MnT in Dec’19. However, the same inched down by 1% on a yearly premise in Jan’20 as against 0.344 MnT in the Jan’19.
As per data maintained with SteelMint, monthly average Rebar prices for 12 mm was around INR 38,175/MT (ex-Mumbai) in Jan’20 as against INR 35,200/MT (ex-Mumbai) in Dec’19. Prices mentioned above are basic, and extra GST@18% is applicable.
Indian large-scale mills have raised rebar offers twice in Jan’20. At the beginning of Jan’20, Indian mills had announced a hike in offers by INR 1,500-2,000/MT. The second hike was made of around INR 500-750/MT across markets.
Company’s flat steel output fell 6% in Jan’20- The company churned out 1.025 MnT of flat steel output in Jan’20, down by 6% on a monthly premise as compared with 1.094 MnT in Dec’19. On a yearly premise, the same inched down by 1% in Jan’20 as against 1.04 MnT in Jan’19.
As per data maintained with SteelMint, on an average basis, domestic HRC (2.5-8mm, IS2062) price was assessed around INR 38,480/MT (Ex-Mumbai) in Jan’20 against INR 35,860/MT (Ex-Mumbai) in Nov’19. Prices mentioned above are basic, and extra GST@18% is applicable.
Indian steel mills raised domestic HRC prices twice in Jan’20 on the back of improved demand, low imports, and increased cost of production. The first hike was made at the beginning of Jan’20 of around INR 1,700-1,800/MT, and the second increase was announced in mid-month of around INR 750- 1000/MT in Jan’20.
Company’s crude steel output down by 5% in Jan’20- JSW Steel’s crude steel output down by 5% on a monthly premise to 1.41 MnT in Jan’20 as compared to 1.486 MnT in the previous month.
However, it inched down by 3% Y-o-Y in Jan’20 when compared with 1.453 MnT in Jan’19.
| Particulars | Jan’20 | Dec’19 | M-o-M (Change in %) | Jan’19 | Y-o-Y (Change in %) |
| Crude Steel | 1.41 | 1.486 | -5 | 1.453 | -3 |
| Flat-Rolled Products | 1.025 | 1.094 | -6 | 1.04 | -1 |
| Long Products | 0.342 | 0.323 | 6 | 0.344 | -1 |
Quantity in MnT
Source: Company Report, SteelMint Research
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