Posted on 09 Dec 2021
Indian private-sector firm Jindal Steel and Power's (JSPL) steel output rose by 10pc on the year in November, while sales fell on continued unavailability of railway rakes.
The company's steel production in November stood at 674,000t, while sales fell by 5pc on the year to 539,000t. Exports accounted for about 15pc of its total sales volume, decreasing from 23pc in October.
Production gained by about 8pc on the month, while sales dipped by 9pc from October because of sluggish domestic demand.
"We are gearing up to achieve our annual target of 8mn-8.2mn t of steel production," said JSPL's managing director VR Sharma.
A lack of railway rake availability for transportation affected the company's sales last month as well.
The Argus domestic India hot-rolled coil (HRC) index stood at 68,000 rupees/t ($901/t) on 3 December, up by 39pc from a year earlier. The Argus cfr Asean HRC index was at $818/t yesterday, up by 30pc from a year earlier.
Source:Argus
