JSPL's crude steel output up 8% to 6.5L tonne in July

New Delhi: Jindal Steel and Power Ltd (JSPL) on Thursday said its steel output rose by 8 per cent to 6.5 lakh tonne (LT) during July 2021.

The company had produced 6.03 LT steel in same month of 2020, JSPL said in a statement.

During the said month, the company's sales also registered a growth of 5 per cent to 6.7 LT as compared to 6.4 LT sales in July last year. Exports accounted for more than 40 per cent of the total sales volumes due to high spot demand from international markets, the company said.

JSPL Managing Director V R Sharma said, "Despite second wave of COVID related disruptions, we are on track to achieve our annual target of 8.25 MT for FY22. Further, we are seeing COVID cases come down, which will give a major relief to the industry and our customers."

He further said the effective vaccination campaign driven by the Centre will encourage workers to return to construction sites and help speed up manufacturing, which will likely to boost domestic demand.