Business Daily from THE HINDU group of publications
Tuesday, Mar 17, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Mar 17, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Corporate
-
Outlook Marketing - Rural Marketing JSW Steel sees good demand till June The company expects to double its sales to 600,000 tonnes this month, aided by rural construction demand and capacity expansion. Our Bureau Hyderabad, March 16 JSW Steel Ltd expects to run its mills at maximum capacity until at least June to meet higher demand from the rural sector. It will also build nationwide sales (retail) outlets, especially to cater to the rural market. “The reduction in steel prices, which is around $450 per tonne now, automatically has increased the demand,” Mr Sajjan Jindal, Vice-Chairman and Managing Director, JSW Steel Ltd, told newspersons on the sidelines of a seminar here on Monday. He said the major demand comes from housing in the rural sector and products such as galvanised sheets and Tor Steel are in great demand. On the demand from infrastructure projects, Mr Jindal, said it was one area which had not picked up as desired. The company expects to double its sales to 600,000 tonnes this month, from a year ago, aided by the rural construction demand and capacity expansion. Mr Jindal said sales should be sustainable for at least the next two quarters. JSW has completed expanding its annual capacity to 6.8 million tonnes (mt) last month, from 3.8 mt. The company, which started 60 retail shops, mostly in small towns and villages, plans to expand the retail chain to 600 units in the next two years. On the export plans, Mr Jindal said, “India has a strong market and we must concentrate on developing the domestic market. Therefore, we have decided that we will be cutting exports by around 70 per cent.” The company currently exports around 40 per cent of its total production. Mr Jindal also said that the company’s plant in Houston, which was operating at about 70 per cent capacity, is now running at 20 per cent because of the slump in demand in the US. He said that the long-term annual coking coal rates, starting April, are likely to drop to less than $100 a tonne. The company, in January, slashed coking coal rates paid to Rio Tinto Group by 43 per cent to $ 175 per tonne for the last three months of the annual contract ending March 31. Mr Jindal said the company, which has got all the approvals for aluminium mining in Andhra Pradesh, is now waiting to sign the bauxite supply agreement with the Government. JSW Steel sees output growth JSW Steel to cut output by 20% in Nov JSW Steel net down 38% on forex loss More Stories on : Outlook | Rural Marketing | Steel
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
