India: JSW Long Steel Output Surge in October
...
India's largest steel maker - JSW Steel has released its production results for the month of Oct'18. The company's crude steel output stood at 1.447 MnT in Oct, up 6% M-o-M.
Further the company's long steel output surged significantly by 34% Y-o-Y in Oct'18 and stood at 0.346 MnT as compared to 0.258 MnT in Oct'17. While against Sept'18, it moved up by 16%.
Meanwhile, flat steel output increased marginally by 2% on monthly basis and stood at 1.011 MnT in Oct'18.
Indian mills raised flat steel prices by INR 1000-1500/MT in October with imports turning costlier amid currency depreciation. Long steel prices of major mills in Oct'18 moved up by INR 500-1000/MT on high input cost and less stocks.
JSW Crude steel performance
| Particulars | Oct'18 | Sept'18 | M-o-M (%) | Oct'17 | Y-o-Y (%) |
| Crude Steel | 1.447 | 1.36 | 6.4%% | 1.343 | 8.00% |
| Flat Rolled Products | 1.011 | 0.993 | 2.00% | 0.977 | 3.00% |
| Long Products | 0.346 | 0.299 | 16.00% | 0.258 | 34.00% |
Fig in MnT
Source: Company Reports
Turn around plans for Monnet Ispat - JSW Steel has planned turnaround plan for recently acquired Monnet Ispat & Energy Limited in three phases in which currently only DRI unit is operational. In 1st phase JSW is planning to commission pellet, sinter, blast furnace, caster under TMT bar in Q3 FY19. In 2nd phase, company is planning to capacity utilization in line with laid crude steel capacity of 1.5 MnT and in phase-III company may look forward on increasing capacity.
JSW Steel's expansion plans - JSW Steel is set to increase its Vijaynagar, Karnataka plant capacity by 1 MnT (from the current capacity of 12 MnT) whereas in case of Dolvi plant in Maharashtra, the company plans to double its current capacity of 5 MnT by March 2020. Thus, the total capacity from JSW Steel over next two years is estimated to be around 24 MnT. It has also recently acquired Monnet Ispat & Power with steel capacity of 1.5 MnT pa.
