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JSW Steel Records INR 5900 Crore Profit for Apr-Jun 2021 Quarter


26 Jul, 2021, 4:09 am
Indian steel giant JSW Steel Limited has reported strong recovery in April-June 2021 quarter with its quarterly profit surging to highest ever level of INR 5,900 crores
April-June 2021Standalone Performance
Saleable Steel Rolled: Flat - 2.67 million tonnes, down 10% QoQ, up 34% YoY
Saleable Steel Rolled: Long - 0.84 million tonnes, down 17% QoQ, up 83% YoY
Semis - 0.10 million tonnes, up 17% QoQ, down 71% YoY
Total Sales - 3.61 million tonnes, down 11% QoQ, up 29% YoY
Highest ever quarterly Revenue from Operations: INR 25,959 crores
Highest ever quarterly Operating EBITDA: INR 9,491 crores
April-June 2021Consolidated Performance
JSW Steel USA Ohio -0.14 million tonnes crude steel & 0.10 million tonnes sales
Bhushan Power & Steel Ltd - 0.69 million tonnes crude steel & 0.48 million tonnes sales ....

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VAMA builds new coating line to serve growing automotive market in China


VAMA builds new coating line to serve growing automotive market in China
Valin ArcelorMittal Automotive (VAMA), a 50/50 joint venture between ArcelorMittal, the world’s leading steel company and Valin Steel, a leading Chinese steelmaker, has begun construction on a new continuous hot-dip galvanizing line at its facilities in Loudi, Hunan, which will enable the production of highly corrosion-resistant steel.
The coating line, which will come onstream by July 2022, will increase VAMA’s capacity to produce high-quality, high-strength steels for the Chinese automotive industry by 450,000 tonnes a year, to 2 million tonnes.
The new coating line will support VAMA’s ambition to become one of the largest suppliers to China’s automotive market. China is already the world’s largest automotive market, with forecasts indicating anticipated annual growth of at least 6% in the coming decade. ....

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