JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, has reported a 6% dip in production of crude steel in February.
While the company produced 13.33 lakh tonnes of crude steel in February last year, output fell to 12.57 lakh tonnes this year.
This is also a slip from the crude steel output of 14.53 lakh tonnes in January.
Besides crude steel, the company also produces long rolled products as well as flat products.
Its output of flat rolled products was at 9.20 lakh tonnes, up 1% on year, whereas the production of long rolled products was at 3.08 lakh tonnes, a decline of 10% from same month last year.
Production is modulated on the basis of demand in the market. When demand slows, the company lowers production to keep the two in sync.
Sales of automobiles, one of the biggest users of flat steel products, has been slow for the last five months or so.
JSW Steel is the flagship company of the USD 13 billion JSW Group which has presence in sectors such as steel, energy, infrastructure, cement, sports among others.