JSW Steel is likely to export 3 million tonnes (MT) of steel in the current fiscal as spiky plunge in rupee against dollar in last few months has made Indian steel cheaper and competitive. It had exported 1.9 million tonnes and has included new markets like China, Japan, South Korea and US to its export basket in recent times.
The company has reportedly increased prices in the range of Rs 1,500- 2,000 per tonne for its flat products, due to sharp fall in Indian rupee against the US dollar in past two months. The company’s cost of production has been going up due to higher cost of raw materials, especially coal, and the rupee depreciation has made it difficult to absorb the the cost escalation.
