India : JSW Long Steel Output Increases in Nov'19
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India's largest private steel manufacturer JSW Steel has released its monthly steel output results today for Nov '19. As per the company's press release, long steel production witnessed growth while flat steel output declines Nov '19.
JSW's long steel output up by 16% M-o-M in Nov '19- The company's long steel output stood at 0.299 MnT in Nov'19, ascended by 16% over 0.258 MnT in Oct '19.
As per data maintained with SteelMint, monthly average Rebar prices for 12 mm in the secondary market was around INR 34,820/MT (ex-Mumbai) in Nov'19 as against INR 34,275/MT (ex-Mumbai) in Oct'19. Prices mentioned above are basic, and extra GST@18% is applicable.
However, the same tumbled by 14% on a yearly premise in Nov'19 as against 0.348 MnT in the Nov'18.
Company's flat steel output fell 7% M-o-M in Nov'19- The company churned out 0.909 MnT of flat steel output in Nov'19, down by 7% as compared with 0.977 MnT in Oct '19.
As per data maintained with SteelMint, on an average basis, domestic HRC (2.5-8mm, IS2062) price was assessed around INR 34,937/MT (Ex-Mumbai) in Nov'19 against INR 34,625/MT (Ex-Mumbai) in Oct'19. Prices mentioned above are basic, and extra GST@18% is applicable.
However, major Indian steel mills had raised flat steel prices by INR 500-750/MT owing to improved demand in the domestic market.
On a yearly premise, the same inched down by 1% in Nov'19 as against 0.915 MnT in Nov'18.
Company's crude steel output up in Nov'19- JSW Steel's crude steel output inched up by 3% to 1.29 MnT in Nov'19 as compared to 1.254 MnT in the previous month.
However, it plunged by 7% Y-o-Y in Nov'19 when compared with 1.39 MnT in Nov'18.
| Particulars | Nov'19 | Oct'19 | M-o-M (Change in %) | Nov'18 | Y-o-Y |
| Crude Steel | 1.29 | 1.254 | 3 | 1.39 | -7 |
| Flat-Rolled Products | 0.909 | 0.977 | -7 | 0.915 | -1 |
| Long Products | 0.299 | 0.258 | 16 | 0.348 | -14 |
Source: Company Report; SteelMint Research
