India: JSPL production and sales volumes rise further in Aug

The company today released its operational performance today. The production and sales volumes have witnessed increase on monthly basis. Key highlights are mentioned below:

1. Crude steel output up by 4% in Aug '20- The company has reported a growth of 4% in its steel production volumes at 0.625 mn t in Aug '20 compared with 0.603 mn t in the previous month. On an yearly basis the same increased by 18% as against 0.529 mn t in Aug ‘19.

2. Sales volumes increased by 7% in Aug '20- Sales volume rose by 7% to 0.682 mn t as compared with 0.637 mn t in Jul'20. On yearly basis it increased significantly by 38% in contrast with 0.496 mn t in Aug’19.

3. Exports accounted for 42% of its total sales- Export sales contributed 42% of the total sales volumes in Aug '20.

“The company's Steel export volumes have come down significantly with an increase in domestic sales post the lock-down period”, shared by Mr. V R Sharma, MD JSPL said in a statement

Other highlights are mentioned below

• The world’s first coal gasification based DRI plant added to the higher production volumes with the same working over 72% of the rated capacity.
  
  
• The pellet production at the Barbil Pellet plant has achieved its best-ever production since its inception at 0.701 mn t in Aug ’20.
  
  

JSPL raised HRC & plate prices sharply in Sep’20- In Sep’20 the company has raised its HRC and plate prices sharply by around INR 2000/t on higher raw material cost and tight supply. Thus effective prices of HRC (2.5-8mm, IS2062) is around INR 41,500-42,000/t (exy-Mumbai).Prices don not include GST extra @18%.