Steel companies’ production reduced due to increase in oxygen supply to patients, slight impact on profits

Due to increase of oxygen supply for Corona patients, their production of steel plant of the country has decreased. But the & nbsp; supply of medical oxygen will not make much difference to their profits. Since the country’s steel plants are busy in supplying their own oxygen to hospitals, their production will fall a little & nbsp; but they will not suffer much financially. The country’s steel plants have very little oxygen left at this time. & Nbsp;

Oxygen stock down

According to a senior official of a steel plant, currently these plants used to have stock for & nbsp; two to three days, but now it has reduced to half a day. However, companies in the steel sector can stop production by giving priority to supplying oxygen to patients. Liquid oxygen is the safety stock for the steel plant as & nbsp; If there is any problem in their captive oxygen plant, work is done from this stock. With this, oxygen is supplied to the blast furnace of the steel plant. By the end of April, the steel sector was supplying 3000 tonnes of medical oxygen every day. & Nbsp;

Decline in exports & nbsp;

However, the loss of production in the steel plant will not affect their profitability much. In July, the price of hot rolled coil i.e. HRC steel was 36,500 per tonne but it has increased by 71 per cent and has reached Rs 62,500 per tonne. Meanwhile, steel exports of SAIL, Tata Steel and JSW have declined. JSW’s steel exports have fallen by 18.6 percent. While SAIL and Tata Steel’s exports have decreased by a third. & Nbsp;

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