JSW Steel logs 22% y-o-y growth in crude steel production in August; stock under pressure

12 Sep 2022 , 01:46 PM

JSW Steel Limited recorded standalone Crude Steel output of 16.76 lakh tonnes in August 2022, a 22% increase year on year. Crude steel production in August 2021 was reported at 13.77 lakh tonnes.

Company reported standalone production of Rolled Products (Flat) at 12.01 lakh tonnes in August 2022, up by 34% y-o-y against 8.99 lakh tonnes in August 2021.

While production of Rolled Products (Long) stood at 3.75 lakh tonnes in August 2022, as compared to 3.01 lakh tonnes in August 2021, registering growth of 25% yoy.

During August ’22, the average capacity utilisation was 87.4%, owing to a lack of iron ore in both Karnataka and Odisha.

At around 1.48 PM, JSW Steel was trading at Rs684.35 down by 0.45% from its previous closing of Rs687.45 on the BSE. The scrip touched intraday high and low of Rs694 and Rs681.50 respectively.

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