Date:13/07/2006 URL: http://www.thehindubusinessline.com/2006/07/13/stories/2006071302330200.htm

Back JSW Steel metal output higher in Q1

Our Bureau

Mumbai , July 12

JSW Steel Ltd said metal production during the first quarter of 2006-07 was higher, with the production of pellet, hot metal, crude metal and HR plates up while the output of HR coil and galvanised products was down.

Pellet production was pegged at 0.97 million tonne, an increase of 7 per cent compared to the year-ago quarter. Hot metal production at 0.61 mt was 8 per cent higher while crude steel at 0.56 mt was up by 5 per cent. Production of HR plates at 0.042 mt was up by 83 per cent compared to 0.023 mt for the corresponding quarter of 2005-06.

Production of HR coil was down by 52 per cent at 0.249 mt and galvanised products at 0.132 mt was lower by 18 per cent (0.160 mt). "In keeping with our expansion strategy, various production facilities including the Hot Strip Mill at the company's plants were either taken under maintenance or shut down for upgradation, during the month of April-May,'' the company said quoting Mr Seshagiri Rao, Director-Finance, JSW Steel. The slowdown in production was planned and anticipated by the company.

JSW is in the process of expanding its capacity from 2.8 mt per annum to 4 mt.

Shares of JSW Steel edged up by Rs 1.90 to Rs 274.75 on the BSE.