India: JSW Steel’s Long Steel Output Increased 11% in FY’18

India’s largest steel maker in terms of production has achieved significant increase in crude steel output in the fiscal ended 31 Mar’18. The company has reported highest ever yearly crude steel output and has met 99% of its laid production guidance.

Long steel output surged by 11% in FY’18– In the fiscal year FY18 company’s long steel output showed the growth of 11% and stood at 3.56 MnT which was 3.21 MnT in FY17.

Also on quarterly basis JSW Steel’s long steel production stood at 1.07 MnT in Q4FY18, which has increased significantly by 22% as compared to 0.88 MnT in previous quarter.

On an average basis, re-bar prices in Indian domestic market rose sharply by 22% in FY18 against previous fiscal.In FY 18 average rebar prices in secondary market stood at INR 33,300/MT (ex-Mumbai),however in FY17 the same was gauged at INR 27,380/MT (ex-Mumbai).

JSW flat steel output remained stable in FY18- JSW Steel’s flat steel output remained unchanged in FY18 and stood 11.44 MnT. In FY17 the same stood at 11.41 MnT.

However on Q-o-Q basis company’s flat steel output increased by 6% to 2.98 MnT in Q4FY18 which was 2.82 MnT in Q3FY18.

On an average basis, HRC prices in Indian domestic market rose sharply by 25% in FY18 against previous fiscal.

JSW Steel’s crude steel output increases by 3% in FY18-Company’s crude steel output registered growth of 3% to 16.27 MnT which was the highest annual crude steel output company has achieved in FY18.In FY17 the same stood at 15.8 MnT.

On Q-o-Q basis company’s crude steel output moved up by 5% to 4.31 in Q4FY18 against 4.11 Mnt in previous quarter.

On monthly basis nation’s crude steel output stood at 1.52 MnT in March’18 higher by 14% in comparison to 1.33 MnT in Feb ‘18.Thus,company’s record the highest ever monthly production in Mar’18.

JSW Steel Production Analysis

Fig in MnT
Source: Company Reports