JSW achieves 85% of original output guidance for FY 2011-12
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One of the largest Indian steelmakers JSW Steel Ltd has announced its crude steel production for the fourth quarter and the full financial year 2011-12.
In the fourth quarter, JSW produced 2.07 million mt of crude steel, up 26 percent compared to the corresponding quarter of the previous year. For the entire financial year 2011-12, JSW's crude steel output reached 7.43 million mt, up 16 percent year on year.
During the given quarter, JSW Steel produced 1.49 million mt of flat rolled products, up 13 percent, while long rolled product output increased by 67 percent to 470,000 mt, both compared to the corresponding period of the previous financial year. In FY 2011-12, JSW's flat steel output amounted to 5.36 million mt, while its long steel output reached 1.52 million mt, up nine and 34 percent, respectively.
According to JSW, despite the guidance of 8.75 million mt of crude steel production in the beginning of FY 2011-12, the company had to reduce its production due to the iron ore shortage caused by the iron ore mining ban in the state of Karnataka. As a result, only 85 percent of the original production guidance is achieved.