JSW Steel Ltd.

JSW Steel is planning to levy a surcharge on the sale of its steel products to its long-term OEM (original equipment manufacturer) customers to offset the rising input cost. The company will be the first company to introduce the concept of surcharge to the domestic steel market.

There is huge pressure on the cost of production. Cost of per tonne steel production went up by 19 percent or Rs 6,600 per tonne quarter-on-quarter in July-September 2021. The concept of surcharge would be new to India but it is not new in the global markets.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.