India’s JSW Steel recorded crude steel production of 563,000 mt in April this year with a plant capacity utilization of just 38 percent, a company statement said on Monday, May 4. The output was down about 60 percent year on year. The spread of Covid-19 hurt domestic demand and the company was forced to redirect more volumes overseas. Long steel production dropped by more than 70 percent year on year, indicating a faster drop than flat steel production.
According to the company statement, in April it produced 344,000 mt of rolled flat products, while usually the output is about 1 million mt. JSW Steel reported 89,000 mt of longs output in April, compared to 340,000 mt in the same period last year.
JSW Steel has already started to prepare for a gradual production revival in May owing to relaxation of lockdown restrictions in the country since April 20. “In view of such intense and timely preparations to commence and scale up production in a healthy and safe state of operating conditions, the company could secure the requisite approvals and has accordingly commenced operations and is gradually ramping up capacity since then,” JSW Steel said in its report.