JSW Steel reported that its consolidated output in the September quarter was up 12 per cent at 5.68 million tonne (mt) against 5.07 mt logged in the same period last year. However, compared to the June quarter output of 5.88 mt, it was down three per cent due to the prolonged monsoon season.
In India, the company’s output increased 14 per cent at 5.6 mt against 4.92 mt year-on-year (y-o-y) and down 2 per cent quarter-on-quarter. The company had added 5 million tonne per annum (mtpa) of fresh capacity in the last December quarter.
The drop in production was on a sequential basis mainly due to extended maintenance shutdowns in JSW Ispat Special Products which was acquired jointly by a consortium of JSW Steel and AION Investments, said the company.
Supply and logistics constraints
This apart, the output was impacted by lower capacity utilisation in other locations in India due to supply and logistics constraints in the sourcing of iron ore and the steep decline in export volumes, it added.
In a sign of a sharp slowdown in the US, the company’s output dipped 46 per cent y-o-y to 0.08 mt (against 0.15 mt) due to subdued market conditions.