JSW Steel sees 60pc jump in sales this quarter on good demand
JSW Steel, country's leading steel maker, expects its sales volume to surge by as much as 60 per cent to 1.2 million tonnes this quarter on account of improved demand from sectors like automobile and construction.
By PTI |
NEW DELHI: JSW Steel, the country's leading steel maker, expects its sales volume to surge by as much as 60 per cent to 1.2 million tonnes this quarter on account of improved demand from sectors like automobile and construction.
"Post-commissioning of a new blast furnace at our plant, we expect our sales to increase by nearly 60 per cent to 1.2 million tonnes as against 0.7 million tonnes in the third quarter," JSW Steel Vice Chairman and Managing Director Sajjan Jindal told reporters on the sidelines of a conference here.
In the fourth quarter of 2007-08, JSW Steel's sales volume stood at 0.96 million tonnes.
On the industry, Jindal said domestic steel producers should see their sales grow by about 15-20 per cent in the fourth quarter of the fiscal.
In an obvious indicator that steel demand is on a revival path, the commodity's consumption increased by 5.7 per cent to 4.45 million tonnes in February from 4.21 million tonnes in the corresponding month last year.
As automobile sector posted a robust growth in February, it had a reflection on the domestic steel output too, which went up by 2.8 per cent to 4.74 million tonnes from 4.61 million tonnes.
Asked if the increased availability of steel could have an effect on the commodity's prices, Jindal said the rates are ought to be stable if not going down.
"Post-commissioning of a new blast furnace at our plant, we expect our sales to increase by nearly 60 per cent to 1.2 million tonnes as against 0.7 million tonnes in the third quarter," JSW Steel Vice Chairman and Managing Director Sajjan Jindal told reporters on the sidelines of a conference here.
In the fourth quarter of 2007-08, JSW Steel's sales volume stood at 0.96 million tonnes.
On the industry, Jindal said domestic steel producers should see their sales grow by about 15-20 per cent in the fourth quarter of the fiscal.
In an obvious indicator that steel demand is on a revival path, the commodity's consumption increased by 5.7 per cent to 4.45 million tonnes in February from 4.21 million tonnes in the corresponding month last year.
As automobile sector posted a robust growth in February, it had a reflection on the domestic steel output too, which went up by 2.8 per cent to 4.74 million tonnes from 4.61 million tonnes.
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Asked if the increased availability of steel could have an effect on the commodity's prices, Jindal said the rates are ought to be stable if not going down.
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