Share price of JSW Steel edged lower by around three per cent on Tuesday, May 11, after the company announced its steel production figures for the month of April 2021 earlier today. On Tuesday, JSW Steel opened on the BSE at Rs 740, witnessing an intra day high of Rs 755.60 and an intra day low of Rs 732.60, in the trading session so far. According to a regulatory filing by the firm to the stock exchanges, JSW Steel reported crude steel production of 13.71 lakh tonnes in April, witnessing a downturn of five per cent month-on-month.
In March 2021, JSW Steel had reported production of 14.46 lakh tonnes. The company's capacity utilisation was lower sequentially in April 2021, due to the priority in supply of liquid oxygen amid COVID-19 treatment, over augmenting steel production.
The statement added that more than 20,000 tonnes of liquid oxygen for medical purposes was supplied from the steel complexes of JSW Steel to fulfill the requirements amid COVID-19 treatment The average capacity utilisation was 91 per cent in April 2021, compared to 96 per cent in March.
The production of flat-rolled products stood at 9.57 lakh tonnes in April, compared to 10.5 lakh tonnes in March. JSW Steel is the flagship business of the JSW Group with an installed capacity of 12 million tonnes per year.
On the NSE, JSW Steel opened at Rs 741, registering an intra day high of Rs 754.80 and an intra day low of Rs 730.55, in the session so far. It was last trading 3.38 per cent lower at Rs 733 on the NSE.
Shares of JSW Steel were last trading 2.79 per cent lower at Rs 737.50 on the BSE.