India: JSW Flat Steel Output Down by 10% M-o-M in Feb'18

JSW Steel reported decline in crude steel output by 9% on monthly basis in Feb'18. Following this,company's flat and long steel output also witnessed fall in the month of February.

JSW Steel's crude steel output went down by 9% M-o-M in Feb'18.-Company's crude steel output move down by 9% M-o-M basis in Feb'18 to 1.33 MnT which was 1.46 MnT in Jan'18.

However on yearly basis JSW crude steel output was higher by 6% Y-o-Y basis as compared to 1.26 MnT in Feb'17.

During Apr'17 to Feb'18 company's crude steel output was recorded at 14.75 MnT ,inched up by 3% against 14.37 MnT in similar time frame of previous year.

JSW flat steel output decline by 10% M-o-M in Feb'18 - JSW Steel's flat steel output slumped by 10% M-o-M basis to 0.91 MnT in Feb'18 against 1.01 MnT in Jan'18.

However flat steel production fell slightly by 1% on yearly basis in Feb'18 which stood at 0.90 MnT in Feb'17.

Meanwhile in Jan'18 major Indian steel manufacturers have raised flat steel prices upto INR 2000/MT amid higher production cost. However in the month of Feb'18 Indian mills went for another price hike upto INR 1500/MT over supply constraints and lesser import bookings in domestic market.

Long steel output fell by 8% M-o-M basis in Feb'18- In the month of Feb'18 JSW Steel's long steel production stood at 0.34 MnT, down by 8% M-o-M in comparison to 0.37 MnT in Jan'18.

Meanwhile on yearly basis, JSW Steel's long steel output move up significantly by 36% against 0.25 MnT in Feb'17.

During first two month of CY18 (Jan-Feb), re-bar prices in domestic market have shown sharp increase. In Jan'18, domestic rebar prices in India moved up by INR 2000-2500/MT while in Feb'18, prices increased by INR 1000-1500/MT on demand supply mismatch.

JSW Steel Production Analysis

Fig in MnT
Source: Company Reports