Steel manufacturing is considered an important sector for a country’s manufacturing output. One of the major player in the Indian steel industry- JSW Steel reported crude steel production of 13.71 lakh tonnes in April, marking a downturn of 5 per cent month-on-month.
In March, it had reported production of 14.46 lakh tonnes. The company said its capacity utilisation was lower sequentially in April due to priority in supply of liquid oxygen for medical purposes over augmenting steel production.
More than 20,000 tonnes of liquid oxygen for medical purposes was supplied from the steel complexes of JSW Steel. The average capacity utilisation was 91 per cent last month as against 96 per cent in March, it said in a statement.
The production of flat rolled products cracked 9 per cent to 9.57 lakh tonnes in April from 10.5 lakh tonnes in March. On the other hand, production of long rolled products tumbled by 5 per cent to 3.37 lakh tonnes from 3.54 lakh tonnes in the same period.
JSW Steel is the flagship business of 12 billion dollar JSW Group with an installed capacity of 12 million tonnes per year. It is the only Indian company ranked among the top 10 steel producers in the world by World Steel Dynamics for the last 10 consecutive years.