InvestorQ : Why did JSW Steel stock come under pressure in markets on Tuesday 11 May?
swati Bakhda made post

Why did JSW Steel stock come under pressure in markets on Tuesday 11 May?

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Sam Eswaran answered.
1 month ago
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The stock price of JSW Steel reacted negatively on Tuesday to the fall in steel output figures for April 20201. JSW Steel reported a 5% month-on-month fall in crude steel production for the month of Apr-21 at 13.71 lakh tonnes. Due to the pandemic, the plant capacity utilization was lower by 500 bps from a level of 96% to 91% in April.

One reason for the fall was also that JSW Steel had prioritized the supply of liquid oxygen for medical use to address COVID-19 treatment. Remember that liquid oxygen is a critical component required in the manufacture of steel and LMO is just a more refined and purified version of the original industrial oxygen. JSW has installed annual capacity of 12 million tons.

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