JSW Steel Limited reported that the crude steel production stood at 0.563 million tonnes in the month of April 2020, recording an average capacity utilization of about 38 percent for the month. The production of flat-rolled products was 3.44 lakh tonnes while the production of long rolled products was 0.89 lakh tonnes for the month of April.
JSW Steel said, “The Company, recognizing the formidable challenges of disrupted supply chains, unparalleled drop in demand, uncertainty in seamless transportation of inbound and outbound goods through containment zones across the country, and inadequate credit flow to the industry, has undertaken multiple initiatives to reduce the fixed cost base, improve efficiencies, and find new markets and customers to remain competitive.” JSW Steel added, “The additional two weeks lockdown 3.0, till 17th May’20 declared by the Central Government with further relaxations to commence some more additional economic activities, is a step in the right direction in reviving the sentiment and in gradually restoring the confidence to rejuvenate the economy.”
Source: livemint.com
