India: JSW Crude Steel Output Up Marginally in May'18
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India's largest steelmaker- JSW Steel has today released their monthly crude steel output results for the month of May'18.
JSW Steel's crude steel output stood at 1.399 MnT up marginally by 2.86% in May'18 which was 1.36 MnT in Apr'18.
However on yearly basis company's crude steel production increased by 3% in May'18 which was at 1.357 MnT in May'17.
Company's crude steel output in FY18 registered growth of 3% to 16.27 MnT which was the highest annual crude steel output company has achieved so far. In FY17 the same stood at 15.8 MnT.
Company's Long steel output inched up by 2% M-o-M in May'18 - Company's long steel output inched up by 2% on monthly basis in May'18 to 0.329 MnT which was 0.324 MnT in the month of Apr'18. However, on yearly basis the same witness the growth of 6% in May'18 against 0.31 MnT in May'17.
In the fiscal year FY18 company's long steel output showed the growth of 11% and stood at 3.56 MnT which was 3.21 MnT in FY17.
In the month of May Indian mills have raised rebar prices by around INR 500/MT in domestic market.Thus on an average basis domestic rebar prices assessed around INR 44,000 - 45,000/MT (ex-Mumbai) for May deliveries. However in the month of June domestic rebar prices have remained stable.
Company's flat steel output remain largely stable M-o-M in May'18- JSW Steel's flat steel output remain largely stable on monthly basis to 0.956 MnT in May'18 against 0.96 MnT in Apr'18.
However on yearly basis company's flat steel output rose slightly by 2% in May'18 against 0.939 MnT in Apr'17.
JSW Steel's flat steel output remained unchanged in FY18 and stood 11.44 MnT. In FY17 the same stood at 11.41 MnT.
Major steel manufacturers have increased prices in flat products by INR 750-1000/MT for the month of May however later prices in domestic traders market declined on limited bookings.
Domestic HRC prices have climbed further owing to limited availability of material in domestic market. Meanwhile lesser import bookings amid improved demand pushed Indian steel manufacturers to raise the prices in domestic market.
On an average basis domestic HRC prices (2.5-8 mm) stood at INR 46,000-46,500/MT (ex-Mumbai) in the month of May'18 which was INR 45,000/MT(ex-Mumbai) in Apr'18.However in the month of June prices edged by INR 500/MT in domestic market.
JSW Steel Production Analysis
| Particulars | May'18 | Apr'18 | M-o-M (%) | May'17 | Y-o-Y (%) |
| Crude Steel | 1.39 | 1.36 | 2% | 1.35 | 3% |
| Flat Rolled Products | 0.95 | 0.96 | 1% | 0.93 | 2% |
| Long Products | 0.329 | 0.324 | 2% | 0.31 | 6% |
Source-Company Reports,SteelMint Research
