JSW Steel's August production falls 4%

MUMBAI: JSW Steel reported a four percent fall in crude steel production in August at 10.66 lakh tonnes versus 11.16 lakh tonnes in the same month last year, according to a regulatory filing on BSE, pointing at a continuing difficult time for Indian steelmakers.

The Sajjan Jindal-led steelmaker, along with other steel companies in India, is suffering due to influx of cheap Chinese steel in the country. Indian steelmakers are cutting prices to compete with Chinese products, which is putting pressure on their profit margins.

JSW Steel shares were trading at up 4% at Rs. 984.15 apiece on BSE on Wednesday.