India’s JSW posts 8% year on year increase in Oct steel production

Posted on 09 November 2018
 

Source: Platts

India’s JSW Steel produced 14.47 million mt of crude steel in October, 7.7% higher from 13.43 million mt the year before, the steelmaker said Thursday.

Likewise, flat steel production increased to 10.11 million mt in October, up 3.5%, while long steel production totaled 3.46 million mt, a 34.1% hike from 2.58 million mt, both year on year.
The increases were a result of higher production runs at JSW’s Vijayanagar and Salem plants.

Vijayanagar is the steemaker’s largest production facility with 12 million mt/year of capacity out of an overall capacity of 18 million mt/year.

Vijayanagar is also the site of a new 20 million mt/year capacity conveyor to transport iron ore from mines to the plant, which should be started up by year-end, thereby improving its performance.

The company had said its growth will be supported by government spending on infrastructure and consumer demand.

Its captive production capacity is likely to get a boost as JSW Steel has reportedly emerged as the favorite to take over bankrupt Bhushan Power and Steel as it received about 66% of the votes from BPS’s committee of creditors in mid October. BPS has a steel production capacity of 3.1 million mt/year. 



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