JSPL's Steel Sales rise 21% MoM in July 21
Jindal Steel & Power Limited has reported steel production of 0.65 million tonnes in July 2021, up 8% YoY. It also reported a sharp recovery in steel sales in the month of July 21, returning back to its growth path. Steel sales were up 5% YoY and surged 21% MoM to 0.67 million tonnes as compared to 0.64 million tonnes during the same month in the previous year. Exports accounted for more than 40% of the total sales volumes due to high spot demand from international markets.
JSPL MD Mr VR Sharma said "Despite second wave of COVID related disruptions, we are on track to achieve our annual target of 8.25 million tonnes for FY22. Further, we are seeing COVID cases come down, which will give a major relief to the industry and our customers. The effective vaccination campaign driven by the Government of India will encourage workers to return to construction sites and help speed up manufacturing, which will likely to boost domestic demand.”