JSW Steel cuts FY21 production guidance
2020-05-25 08:37:03 [Print]
JSW Steel cut its FY21 production guideline marginally from the previous fiscal and estimates that capacity utilization at its plants would remain at around 89% for the full year.
JSW Steel has slashed its production guidance to 15 million tonnes (mt) of saleable steel and 16 mt of crude steel for FY21, down from FY20 output of 15.08 mt and 16.06 mt respectively.
The company said that workforce remobilization will be a key challenge for core sectors of the economy after the national lockdown is lifted; however, lower energy prices and expectations of a normal monsoon are positive for consumption outlook. A gradual recovery in economic activities is expected in the second half of FY21.
JSW Steel has slashed its production guidance to 15 million tonnes (mt) of saleable steel and 16 mt of crude steel for FY21, down from FY20 output of 15.08 mt and 16.06 mt respectively.
The company said that workforce remobilization will be a key challenge for core sectors of the economy after the national lockdown is lifted; however, lower energy prices and expectations of a normal monsoon are positive for consumption outlook. A gradual recovery in economic activities is expected in the second half of FY21.
