JSW Steel production rises 88% in Q3

JSW Steel production rises 88% in Q3

Mumbai: JSW Steel, the country’s largest private sector steel maker by domestic capacity, on Tuesday said its production rose 88% to 14.69 lakh tonnes in the third quarter of the current fiscal.

The company’s crude steel production during the nine-month period ended 31 December 2009 was 43.9 lakh tonnes, up 59% over the corresponding period last year.

During the December quarter last fiscal, the company’s crude steel production was at 7.82 lakh tonnes, JSW Steel said in a statement to the Bombay Stock Exchange.

Production of flat-rolled items, used by the auto and consumer durables industry, surged 51% to 9.41 lakh tonnes in October-December quarter compared with the same period last fiscal.

Production of long-rolled steel products, primarily consumed by the construction sector, also surged by 199% to 2.37 lakh tonnes in the latest quarter compared with the same period a year ago.

JSW Steel, which belongs to the JSW Group, is one the lowest cost steel producers in the world.

Shares of JSW Steel were trading at Rs1,117.20, up 9.18% in late afternoon trade on the BSE.