Higher global steel prices by Sep-Oct: JSW Steel
By Our Corporate Bureau | 24 Jul 2007
Global steel prices will be higher by September or October, Sajjan Jindal, vice chairman and MD, JSW Steel said on Tuesday. He explained that global steel prices are seen to be stable, with a firm bias, and there is a 26 per cent volume growth.
However, said Jindal, the US steel industry saw deceleration of growth over the last year.
JSW
Steel''s first quarter results reported a net profit of Rs428 crore against Rs170.3
crore for the first quarter of the previous year. Net sales stood at Rs2,191 crore
vs Rs1,569.4 crore. Consolidated net sales stood at Rs2,202.38 crore and net profit
at Rs429.13
crore. EBITDA margins are at 37.72 per cent.
He,
however, clarified that the company would continue to pursue the matter with the
state government.