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JSW's crude steel production drops marginally to 3.25 MT
Source: IRIS | 12 Oct, 2015, 03.35PM
Rating: NAN / 5 stars.
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JSW Steel, an integrated steel manufacturer, announced a marginal decline of 1% in the production of crude steel to 3.25 million tonnes (MT) from 3.30 MT in the same period last year.

Also the company reported a 2% fall in production of flat rolled products during the quarter to 2.57 MT, down 2% from 2.61 MT in the same period last year.

The company witnessed a robust growth of 15% in the production of long rolled products to 0.64 MT in the second quarter from 0.56 MT in the same period last year.

The company said, "The company's crude steel production for the Q2FY16 was lower relative to that of the last year as one of the blast furnaces at Vijaynagar works was taken under shut down for relining and is expected to be re-commissioned in early December 2015."

Further, the company said, "During a normal maintenance work at Salem works, there was a minor leakage of the blast furnace gas due to which the Tamilnadu Pollution Control Board had directed a closure of the plant."

The plant restarted on Oct 10, 2015 following the order revocation of the closure notice by the concerned authorities.

However the company achieved cumulative crude steel production of 6.65 MT in H1 of FY16 showing a growth of 4% over the corresponding period of the last year.

Shares of the company declined Rs 8.5, or 0.93%, to settle at Rs 902.40. The total volume of shares traded was 157,077 at the BSE (Monday).

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