India: JSW Crude Steel Output Drop by 13% in Feb'19
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JSW Steel- India's largest private steel producer has released its monthly crude steel output results today for the month of Feb'19. Company observed significant decline in its production volumes in Feb'19.
Crude steel production plunged by 13% M-o-M in Feb'19- On monthly basis JSW Steel's crude steel output stood at 1.257 MnT in Feb'19 plunged by 13% as compared to 1.45 MnT in Jan'19.
Whereas on yearly basis company's production move down by 5% in Feb'19 against 1.33 MnT in Feb'18.
Company's flat steel output fell by 12% M-o-M in Feb'19- JSW flat steel output stood 0.920 MnT in Feb'19, decline by 12% M-o-M basis in comparison to 1.04 MnT in Jan'19.
Major Indian steel manufacturers increased flat steel prices twice in a month by total of around INR 1750-2000/MT for Feb deliveries. However buying remained dull.
Thus on an average basis domestic HRC prices in traders market is around INR 41,500/MT (ex-Mumbai) in Feb'19 which was around INR 40,800/MT (ex-Mumbai) in Jan'19.
Whereas on yearly basis the same rose by 1% in Feb'19 against 0.912 MnT in Feb'18.
Company's long steel output decline by 9% M-o-M in Feb'19- Company's long steel output registered a fall by 9% on monthly basis at 0.308 MnT in Feb'19 against 0.34 MnT in Jan'19.
In the month of Feb'19 company increased rebar prices twice by total of around INR 2000/MT. However traders observed slowdown in buying activities after sharp surge in prices.
Similarly on yearly premises the same reported a decline of 10% in Feb'19 compared to 0.341 MnT in Feb'18.
JSW Steel Production Figures in Feb'19
| Particulars | Feb'19 | Jan'19 | M-o-M (Change in %) | Feb'18 | Y-o-Y |
| Crude Steel | 1.257 | 1.45 | -13 | 1.33 | -5 |
| Flat Rolled Products | 0.920 | 1.04 | -12 | 0.912 | 1 |
| Long Products | 0.308 | 0.34 | -9 | 0.341 | -10 |
Source: Company website, SteelMint Research
Qty in MnT
