JSW Steel clocks 5 pc sequential growth in Q3 crude steel production

JSW Steel, the flagship business of 14 billion dollar JSW Group, on Monday reported 4.02 million tonnes of crude steel production in the third quarter of current financial year compared to 3.84 million tonnes in Q2 FY20, marking a growth of 5 per cent.

The production was 4.23 million tonnes in Q3 FY19, which shows a decline of 5 per cent in Q3 FY20.

The production of flat rolled products increased by 6 per cent to 2.86 million tonnes in Q3 FY20 from 2.71 per cent in Q2 FY20 but declined by 1 per cent from 2.9 million tonnes in Q3 FY19.

The product of long rolled products increased by 9 per cent to 0.89 million tonnes in Q3 FY20 from 0.82 million tonnes in Q2 FY20 but declined by 14 per cent from 1.04 million tonnes in Q3 FY19.

For the first nine months (April to December), crude steel production has declined by 3 per cent to 12.09 million tonnes year-on-year while flat rolled products production declined by 3 per cent to 8.48 million tonnes.

Long rolled products production declined by 4 per cent to 2.76 per cent compared to the corresponding period of the previous year, JSW Steel said in a statement.

JSW Steel is one of the largest producers of steel products in India with an installed steelmaking capacity of 18 million tonnes per annum.