JSPL’s steel sales supported by export performance in Jan
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Update time : 2022-02-16 22:06:13
Jindal Steel and Power Limited (JSPL), a steel and energy company in India, reported that the sales of its steel products reached 695,000 tons in January this year, up by 20% compared to the same month a year ago, due to support by strong export performance.
The exports accounted for 31% of the total sales in January, compared to a proportion of 28% in the previous year. The growth was attributed to the slight improvement in rake availability.
Since steel mills lower their quotations to maintain competitiveness, India’s finished products exports rose by more than 50% year on year in January.
V.R. Sharma, JSPL's managing director, said that India’s growth in steel, cement, and other related sectors will be supported by the government’s push on infrastructure development and increased capital spending in the coming years.
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