JSPL Steel Exports Zoomed 109% Amid Market Uncertainties

SEATTLE (Scrap Monster): Jindal Steel and Power Limited (JSPL) reported robust growth to steel exports during the month of April this year, amidst market certainties due to Covid-19 pandemic.

According to fling submitted to the Bombay Stock Exchange (BSE) by the company, the exports of steel and related products hit the highest level of 2.48 lakh metric tonnes (MT). The exports surged higher by 109% over the prior month. The exports accounted for nearly three-fourth of the total sales. The consolidated steel production by the group totalled 655,000 MT.

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The Angul blast furnace posted highest ever production of 298,000 MT of steel production. The per-day production on working days has averaged at around 10,000 MT. Meantime, the company’s Oman Steel Plant reported steel production and sales of 1.06 lakh MT and 1.2 lakh MT respectively in April 2020.

Commenting on the achievement, VR Sharma, Managing Director, JSPL noted that the agile and decisive team has been highly successful in addressing the domestic demand situation and securing full export order book in order to ensure full capacity utilization at its plant. All plant operations were carried out in full adherence to government guidelines to ensure physical distancing, he added.