JSW's crude steel output drops 60% in Apr
It was reported that due to the impact of the COVID-19 epidemic, the crude steel output of India’s JSW Steel decreased by approximately 60% year-on-year in April 2020. The company's crude steel output in April 2020 was 563,000 tons, with an average monthly capacity utilization rate of 38%.
Due to the pandemic of the coronavirus, JSW Steel made a decision to reduce or suspend production during the blockade on March 25. At present, India’s government has announced an extension of the blockade period until May 17. The company would obtain the necessary approvals firstly to start operations and then gradually increase production capacity.
JSW Steel expressed that after the blockade ended, the more economic activities would be further relaxed, and it was a step in the right direction in order to restore market confidence and gradually restoring the confidence of revitalizing the economy.
