JSW Steel Reports Highest-Ever Production Numbers in 2012
MetalMiner | May 23, 2012 03:51AM ET
India’s steel manufacturer, JSW Steel Limited, has reported the highest-ever volume of production and sales for 2011-2012, including Q4 FY2012.
According to a Business Standard report, the company produced 7.43 million metric tons of crude steel in FY12 and 2.07 million metric tons in Q4. Similarly, sales volume in FY12 and Q4 was 7.82 million tons and 2.31 million tons, respectively.
This, despite severe iron ore shortages plaguing Indian steelmakers, not to mention article , for JSW Steel, the resumption of category B mines will be crucial both for achieving production and sales targets as well as plant capacity utilization of over 70%.
The company says that availability of iron ore remained a bottleneck for most of FY 2011-12 due to NMDC not being able to produce and supply 1 million tons per month as directed by the Supreme Court; additionally, the quality of iron ore available in e-auctions from stockpiles deteriorated substantially, which together led to loss of production and increase in cost.
The company had given a target for FY 2011-12 crude steel production of 8.75 million tons and saleable steel sales of 9 million tons. Following the ban on iron ore mining, the company revised the target to 7.5 million tons and 7.8 million tons, respectively, for production and sales.
BY TC Malhotra
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