JSW Steel Limited has reported crude steel production at 0.563 million tonnes for April 2020, clocking an average capacity utilisation of about 38% for the month. JSW Steel said “The Company, recognising the formidable challenges of disrupted supply chains, unparalleled drop in demand, uncertainty in seamless transportation of inbound and outbound goods through containment zones across the country, and inadequate credit flow to the industry, has undertaken multiple initiatives to reduce the fixed cost base, improve efficiencies, and find new markets and customers to remain competitive.”
JSW added “The additional two weeks lockdown 3.0, till 17th May’20 declared by the Central Government with further relaxations to commence some more additional economic activities, is a step in the right direction in reviving the sentiment and in gradually restoring the confidence to rejuvenate the economy.”
Source: STEELGURU
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