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JSW Steel reported that its crude steel production in the first quarter of this fiscal was up 27 per cent at 2.14 million tonnes.
Production of flat steel, which is used by the white goods and automobile sectors, was up 36 per cent at 1.61 mt, while that of long products used in infrastructure and real estate projects was up 27 per cent at 0.44 mt.
The capacity utilisation at the Vijayanagar plant in Karnataka was at 80 per cent in the first quarter of this fiscal. The plant has a capacity of the 10 million tonnes a year. Production at the plant was hit due to constraints in availability and quality iron ore in e-auction in Karnataka.
The company had to rely on e-auction after the Supreme Court banned iron ore mining in Bellary, Chitradurga and Tumkur districts of Karnataka last year to stop illegal mining.
In April this year, the apex court-appointed Central Empowered Committee recommended mining at ‘Category A’ mines, which were not part of illegal mining.
The company stocks on the BSE were up 0.05 per cent at Rs 713 on Wednesday.
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