JSW Steel production in May at 13.67 lakh tonnes
Shares of JSW Steel rallied 3% today on better crude steel production in May 2021. The crude steel production in May was at 13.67 lakh tonnes against 12.48 lakh tonnes in May 2020, up 10%.
The capacity utilisation remained at 91% in May as liquid oxygen supplies were over 30,000 tonnes for medical purposes, as against over 20000 tonnes in April’21.
The production of flat rolled products rose 10% to 9.99 lakh tonnes in May from 9.05 lakh tonnes in the same month of last year.
On the other hand, production of long rolled products escalated by 55% to 3.09 lakh tonnes from 2 lakh tonnes in the same period.
Recently, the company paid Rs 498.50 crore, taking the total receipt to Rs 723.50 crore, from the Business Transfer Agreement (BTA) between Company (purchaser) and Welspun Corp (seller) for the acquisition of the business of manufacturing of high-grade steel plates and coil.
JSW Steel is the only Indian company ranked among the top 10 steel producers in the world by World Steel Dynamics for the last 10 consecutive years.
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