Posted on 11 Feb 2022
Indian private-sector firm Jindal Steel and Power's (JSPL) steel sales increased by 20pc on the year to 695,000t in January, supported by robust exports.
Exports accounted for 31pc of the sales volume in January compared with 28pc in December, helped by an increase in rake availability.
India's finished steel exports surged by over 50pc on the year last month as mills lowered offers to remain competitive.
JSPL's steel production in January dipped by 1pc on the year to 682,000t.
"[The] government's push on infrastructure and increase in outlay for capital expenditure will support growth for steel, cement and other related sectors in the coming year," said JSPL's managing director VR Sharma.
The Argus domestic India hot-rolled coil (HRC) index stood at 66,500 rupees/t ($880/t) on 4 February, up by 20pc from a year earlier, while the Argus cfr Asean HRC index was at $828/t yesterday, up by 27pc on the year.
Source:Argus Media
