JSW Steel expects local sales, exports to rise in March quarter
NEW DELHI, MUMBAI : Amidst a recovery in global steel prices and the upcoming general elections, JSW Steel maintains an optimistic outlook for the domestic steel market for the fourth fiscal quarter, expecting a notable uptick in steel volumes, Jayant Acharya, joint managing director of the company, said in an interview. “I expect the volumes will be better, driven by a seasonally strong quarter. The global steel prices in the last month have improved in the US, Europe, and China, as well as in the Asian regions," he said, adding that the buoyant global prices should translate into better pricing even in the domestic market.
Steel exports, too, should see an uptick in the January-March quarter, he said. “We are witnessing a better global environment for exports and that should increase the export volume, which we are already seeing in the order book. So, stronger volumes in the fourth quarter should be possible," Acharya said.
As the country gears up for general elections, Acharya is hopeful that the government will maintain its focus on public capital expenditure, manufacturing growth, and energy transition initiatives, leading to higher demand for steel. “The overall steel demand for the decade in the medium term should be good. And we will continue to look at the domestic Indian market and put capacities accordingly," he said.
JSW Steel’s domestic sales in the third quarter (October-December) increased just under 5% from a year earlier to 5.8 million tonnes, chiefly driven by increased sales to industrial customers in the auto, renewable energy, and packaging industries. Exports, meanwhile, were at about 550,000 tonnes, constituting just 9% of the company’s sales. This, Acharya said, was largely a consequence of the
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