JSW Steel, India’s largest & private steel manufacturer has increased offer price for its gas based DRI.
SteelMint learnt from market sources that prices have been increased by around INR 1,000/MT (USD 16) and current offers stand at INR 19,500-20,000/MT (USD 300-308) for 80-82 FeM.
Company is also offering Pig iron (steel grade) at a price level of INR 24,000-25,000/MT (USD 370-385)
The company has annual DRI (Sponge iron) production capacity of 1.6 MnT at its Dolvi plant.
The material is produced & offered on ex-works basis from its dolvi, Maharashtra based.
JSW offers have increased in line with higher scrap and sponge iron prices in domestic market by other private players. Although, JSW is not a regular supplier of DRI in merchant market and largely used for its own consumption.
JSW has annual crude steel capacity of 18.00 MnT in which during FY17 the production are reported 15.8 MnT.
In latest update, the company has shown significant increase in its crude steel production by 11% on yearly basis in the month of Nov’17. The company achieved crude steel output of 1.362 MnT in Nov’17 which was at 1.227 MnT in previous year. Further, the crude steel production moved up by 1.4% in Nov’17 in comparison to 1.343 MnT in Oct’17.
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