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JSW Steel has reported that its crude steel production was up nine per cent at 3.15 million tonnes in March quarter against 2.77 mt in the same period last year.
Flat products output was up eight per cent at 2.48 mt and that of long products jumped 10 per cent to 1.83 mt. Flat products are largely used by automobile and white goods manufacturers and long products find use in real estate and infrastructure projects.
JSW Steel had given a production target of 12 million tonnes for last fiscal. Despite tough business environment of slow growth, inadequate and poor quality of iron ore and shortage of natural gas, the company exceeded the guidance by 0.17 mt, JSW Steel said in a press release on Monday.
For the financial year ended March 31, 2013, the company’s crude steel output was up nine per cent at 12.17 mt (11.18 mt). Flat products production rose 10 per cent to 9.74 mt (8.84 mt) and long products was up two per cent at 1.83 mt.
Shares of JSW Steel were down one per cent at Rs 1,055 on Monday.
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