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JSW crude steel output up 18% in November

The Sajjan Jindal led-company had produced 5.07 lakh tonnes of crude steel in November 2010

JSW Steel reported an 18% increase in crude steel production for November at 6 lakh tonne on better capacity utilisation at its Vijaynagar plant.

The Sajjan Jindal led-company had produced 5.07 lakh tonnes of crude steel in November 2010.

"The capacity utilisation improved gradually to 68% at Vijaynagar works in November from average utilisation of 63% in October 2011, due to increased receipt of iron-ore supply from e-auctions," the company said in a filing to the Bombay Stock Exchange (BSE).

The consistent availability of iron ore at fair price is crucial to maintain or to improve capacity utilisation further, it said.

"The company so far received 37% iron ore at plant's site out of total iron ore of 5.67 million tonne procured in e-auctions," it added.

The company saw 46% increase in production of long products at 1.29 lakh tonne in November, compared to corresponding month last fiscal. Output of flat products stood at 4.27 lakh tonne during the month, up 12% from November 2010.

Long products are mainly used in construction while flat products are used in automobiles, white goods etc.

The Karnataka-based steel maker had earlier cut down production on account of shortage of iron ore following the Supreme Court ban on mining in the state.

JSW Steel had said its production in September this year was down by 28%, compared to August as it had to bring down production at Vijaynagar facility to 30% in the last week of the month due to raw material shortage.

The company had produced 17.38 lakh tonne crude steel in the second quarter of the current fiscal.

In the late afternoon, JSW Steel was trading at around Rs619 per share on the Bombay Stock Exchange, 1.41% up from the previous close.

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