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JSW Steel plans to levy surcharge steel products as input cost mounts

JSW Steel will be the first company to introduce the concept of surcharge to the domestic steel market. There is a huge pressure on the cost of production.

October 24, 2021 / 11:42 AM IST
 
 
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To offset the rising input cost, domestic steel giant JSW Steel is planning to levy a surcharge on sale of its steel products to its long-term OEM (original equipment manufacturer) customers, according to a top company official.

JSW Steel will be the first company to introduce the concept of surcharge to the domestic steel market. There is a huge pressure on the cost of production.

Cost of per tonne steel production went up by 19 per cent or Rs 6,600 per tonne quarter-on-quarter in July-September 2021, Seshagiri Rao, Joint Managing Director and Group CFO, JSW Steel, said.

There is a huge pressure on the cost of production. The rate of coking coal — a key steelmaking raw material for which players remain dependent on imports — has also gone up from USD 120 a tonne to USD 400 a tonne in just four weeks, he told
PTI
first published: Oct 24, 2021 11:44 am

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