India’s Jindal Steel and Power Limited (JSPL) achieved steel production of 657,000 mt in February this year, up a marginal one percent year on year, a company statement said on Thursday, March 10.
However, the company recorded an eight percent year-on-year increase in sales to 590,000 mt in February.
Total exports accounted for 24 percent of total sales in February, up 26 percent year on year and 31 percent higher than in January this year, the company reported.
“The world has started feeling the heat of the unfortunate Russia-Ukraine conflict. Brent and energy prices are skyrocketing... input costs for steam coal, coking coal and ferroalloys are witnessing a substantial rise, which has resulted in higher steel prices. Higher input costs should therefore result in a continued rise in steel prices as the industry grapples with containing cost pressures,” JSPL managing director V R Sharma said.
