Crude steel production by Jindal Steel & Power (JSPL) in July rose by 8pc to 650,000mt from the prior-year period, according to the company’s release. Sales in the month increased by 5pc to 670,000mt from the prior-year July and by 21pc from the preceding month.
Exports accounted for 40pc of the total sales in the month on high demand in the international markets.
The primary steelmaker plans to produce around 8.25mn mt of crude steel in FY22 ending March 2022, amid the second wave of COVID-19 and related disruptions.
JSPL managing director VR Sharma believes with the gradual recovery in the economy and workers returning to plants, production, and domestic demand could pick up.
Market participants also believe the Chinese government’s move to do away with export rebates on steel products could aid the demand for Indian steel in overseas markets.
Production and sales
| July 2021 | July 2020 | |
| Crude steel production | 650,000mt | 603,000mt |
| Sales | 670,000mt | 637,000mt |