India JSPL hits all-time high steel production

JSPL's April 2021-March 2022 production and sales increased 7 percent and 5 percent annually, respectively. January-March production rose 2% year on year to 2.11 million tons, while sales rose 8% year-on-year to 2.07 million tons.

March production increased by 5.5% year on year to 0.77 million tons, while sales in the month increased by approximately 1% year-on-year to 0.79 million tons.

JSPL said exports accounted for 33 percent of total sales volume in March, in line with the share in the fiscal year.

“We aim to produce more than 9 million tons by FY23. Our Angul factory expansion is on the way and we expect to reach a capacity of more than 15 million tons by FY25,” said managing director VR Sharma, adding that the company has increased its raw material significantly. supply after gaining four new coal blocks in recent times."

During the fiscal year, India's crude steel production rose 16 percent year on year to over 120 million tons. Consumption of finished steel rose 11.1 percent year on year to 105 million tons, while exports rose 25 percent year on year to 13.5 million tons, driven by strong international demand.