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JSW Steel production up 13% in July

The company's crude steel production had risen to 6.76 lakh tonne in July compared to the same month last year

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Press Trust of India New Delhi

JSW Steel today said its crude steel production had risen by 13% to 6.76 lakh tonne in July compared to the same month last year.

The Mumbai-based steel producer had reported 5.99 lakh tonne of production in July 2011.

Its long products output grew by 24% to 1.42 lakh tonnes and flat product's by 15% to 4.85 lakh tonne during the month, the company said in a statement.

Long products are mostly used in the construction sector while flat products are used in consumer durables and fast moving consumer goods sector.

"The capacity utilisation at Vijayanagar works was at about 75% in July 2012 due to shortage and non availability of quality iron ore," the statement said.

 

The company operates a 10 million tonne (MT) steel plant at Karnataka's Vijaynagar and a one MT capacity one at Salem in Tamil Nadu.

For the current fiscal, the Sajjan Jindal-led company has kept a target of producing 8.75 MT of crude steel, while its production in the last fiscal was 7.43 MT.

Shares of the company closed at Rs 735.85 on the BSE, up 2.31% from the previous close.

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First Published: Aug 24 2012 | 4:58 PM IST

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