JSW Steel reported a 5 per cent YoY crude steel production growth in November. The steel major reported a net production of 24.39 lakh tonnes of crude steel in the month. Last year, the company’s net crude steel production was 23.23 lakh tonnes in November.
JSW Steel’s crude steel production from Indian operations stood at 23.61 lakh tonnes in November this year, compared to 22.53 lakh tonnes in the same month last year. The company’s output from its Ohio, United States, operation increased marginally to 0.78 lakh tonnes from 0.70 lakh tonnes last year.
JSW Steel capacity utilisation slows
JSW Steel’s capacity utilisation lowered to 84 per cent in November. The company said that the primary reason for the low capacity utilisation in the month is the shutdown of the blast furnace at the Vijaynagar facility.
JSW Steel said that the blast furnace was shut down at September end due to scheduled upgradation, as the company is increasing the plant capacity to 4.5 MTPA from 3 MTPA. The steelmaker said that, excluding the Vijaynagar facility, the company’s capacity utilisation in November was at 93 per cent.
JSW Steel’s net production capacity
JSW Steel said that its yearly consolidated crude steel capacity is 35.7 million tonnes. It includes domestic crude steel capacity of 34.2 MTPA and 1.5 MTPA from the US.
The company said that its next phase of growth will take consolidated capacity to 43.4 MTPA over the next three years. “The Company’s plant in Vijayanagar, Karnataka, is the largest single-location steel-producing facility in India with a current capacity of 17.5 MTPA.” the company said.
JSW Steel share price
JSW Steel’s stock opened at Rs 1,118 on Tuesday. In the last month, JSW Steel, stock has declined by 5.88 per cent. However, the company stock has gained about 10 per cent and 9.6 per cent in the last six months and one year, respectively.