India Steel Market Watch
October 12: JSW Steel reported a 1% drop in crude steel production in the second quarter of FY16 at 3.25 million tons (mt) as against 3.30 mt in the same period last year, the company said in a statement.
Flat production also fell 2% in the second quarter of FY16 at 2.57 mt as against 2.61 mt in the same period last year.
Long production, however, grew by 15% to 0.64 million tons in the second quarter of the current fiscal as against 0.56 mt in the same period last year.
The company’s crude steel production for the second quarter for FY16 was lower relative to that of last year as one of the blast furnaces at Vijayanagar works was taken under shutdown for relining and is expected to be re-commissioned in early December 2015, the statement said.
Further, at Salem works, during a normal routine maintenance work at one of the blast furnaces, there was a minor leakage of blast furnace gas and the affected employees working on maintenance jobs have been taken to hospital and treated and there are no fatalities.
Consequently, the Salem plant was under shutdown from September 28, 2015 following a directive from the Tamil Nadu Pollution Control Board for around 2 weeks and the plant restarted on October 10, 2015 on revocation of closure notice by the concerned authorities.
Following the report submitted by a multi-disciplinary committee constituted by Tamil Nadu Pollution Control Board and the representations made by the company, the closure order was revoked and the operations of the Salem plant resumed.
JSW achieved cumulative crude steel production of 6.65 mt in the first half of FY16 showing a growth of 4% over the corresponding period of last year.
JSW Steel Limited is engaged in manufacture of flat and long products, viz, HR coils, CR coils, galvanised products, galvalume products, colour-coated products, auto grade/white goods grade CRCA steel, bars and rods.
The break-up of production is as below:
Particulars |
2Q FY’16 |
2Q FY’15 |
Growth |
Crude Steel (mt) |
3.25 |
3.30 |
-1% |
Rolled Products : Flat (mt) |
2.57 |
2.61 |
-2% |
Rolled Products : Long (mt) |
0.64 |
0.56 |
15% |