JSW Q3 crude steel output drops 15 pc to 2.7MT

NEW DELHI: JSW Steel today said its crude steel production dropped 15 per cent to 2.70 million tonne (MT) in October-December this fiscal due to planned shutdown of blast furnaces for capacity expansion.

JSW Steel, part of diversified 11 billion JSW Group had recorded 3.17 MT crude steel production in the third quarter of 2014-15.

"Crude steel production is lower in Q3, FY16 due to planned shutdown of one blast furnace each at all three locations viz. Vijayanagar, Dolvi and Salem, for capacity expansion," the company said in a BSE filing.

The blast furnaces are expected to resume production during January-February this year, it said.

The production of flat products during the third quarter dipped by a huge 27 per cent to 1.87 MT as against 2.56 MT in the corresponding period of the previous fiscal.

The company said it achieved a cumulative steel production of 9.36 MT in the first nine months of 2015-16 against 9.57 million tonnes during the corresponding period of last year.