India-based JSW Steel’s crude steel production rose to 1.33mn mt in November, up by 3pc from the prior year. Average capacity utilisation flat at 89pc, similar to October. JSW could not achieve higher capacity utilisation due to a shortage of iron ore in the domestic market, states the company’s operational update.
Flat steel production recorded a rise of 6pc at 0.96mn mt in November while long steel production dropped marginally by 1pc to 0.29mn mt.
Indian primary steel producers including JSW Steel sharply raised prices in December. JSW raised prices by around Rs2,500/mt ($33.97/mt) in both long and flat products as per Davis Index sources. The company further raised rebar prices by Rs2,000/mt ($27.17/mt ) in the last few days.