JSW Steel stock down on drop in production level in Nov

JSW Steel stock declined on the bourses in early trading session mainly impacted by the fall in crude steel production. The stock was down 1% to Rs 256.15 on the BSE today.

JSW Steel had achieved crude steel production of 12.90 lakh tonnes in November 2019 compared to 13.90 lakh tonnes in November 2018, recording a decline of 7%. Production of flat rolled products declined 1% to 9.09 lakh tonnes while production of long rolled products declined 14% to 2.99 lakh tonnes in November 2019 over November 2018.

The company showed in November 2019, a sequential month on month growth of 3% in crude steel production. The blast furnaces, which was temporarily shut down in October 2019 due to slowdown in auto demand has recommenced operations in the last week of November 2019.