JSW Steel Production Crashes
JSW Steel produced 0.56 million tonne of crude steel in April, almost 60% lower year-on-year, with capacity utilisation falling 38% in the first full month of the covid-19 induced lockdown. India’s second largest private steelmaker produced 0.34 mt of flat steel products, used to build automotive and heavy machinery, compared with 0.95 mt in the previous year. Production of long steel, used in construction and infrastructure, crashed to 0.09 mt in April from 0.34 mt a year ago. Despite steel production classified as an essential service and a continuous process industry that was allowed to operate through the lockdown, production crashed as domestic demand for steel disappeared.
Tags : ALLIED construction Steel JSW Steel Infrastructure India automotive lockdown