Good cycle for commodities will continue: JSW Steel's Seshagiri Rao

Steel prices cannot remain at the same level when coking coal prices have increased, says the senior executive

JSW Steel, India’s largest steelmaker, reported profit after tax of Rs 4,516 crore in Q3FY22 on a consolidated basis, an increase of 69 per cent year-on-year. Quarter-on-quarter, it was lower by 37 per cent primarily on account of elevated coking coal and power cost. Steel prices, too, saw some softening. Seshagiri Rao, joint managing director and group chief financial officer of JSW Steel, tells Ishita Ayan Dutt in an interview the acceleration of demand in the second half of the year has not been as anticipated but demand will pick up in Q4.

Edited excerpts from the interview.

Steel demand