JSW steel post 32 pc growth in crude steel prodn

Mumbai, Sep 3: JSW Steel Ltd has created a new milestone by posting the highest ever crude steel production with 32 per cent growth in August'07.

The company in a statement made to the Bombay Stock Exchange (BSE) said, the company's outlook for steel is positive due to spurt in demand, notwithstanding the rise in input costs.

The company said that the input costs, particularly Iron ore, Coal, Coke and ferro alloys prices have shot up in the last few weeks.

Domestic price for steel products in China also went up by about USD 50 per tonne, the company said.

With the highest production record in the month of August 2007, in all product categories except galvanized product. The Company could achieve significant volume growth as the hot metal furnace re-commissioned on July 23, 2007 after capital repair has been working at full capacity since then, the company said.

The company's Crude Steel Production was 2.88 lakh tonnes, up by 32 per cent in the corresponding period a year ago. The company has posted production of HR Coils 2.37 lakh tonnes, registering a rise of 15 per cent from last year.

The company has produced 0.22 lakh HR Plates, registering a growth of 68 per cent as compared to last month.

The Company has also shown 21 per cent growth in volumes sequentially in Crude Steel, 11 per cent growth in HR Coils and 19 per cent growth in HR Plate products.

UNI