Expect To See Strong Volume, Lower Costs And Stable Prices In Q4FY25: JSW Steel | CNBC TV18

So if you look at the quarter two growth, which was a little slower, but it was impacted because of election year, central and state both, and that I think slowed down the capex spend overall. So the capex spend from April to November was a little less than 50% of the overall capex spend for the full year. The government has guided that the capex will pick up and we are seeing signs of that being reflected in the last quarter itself. In the long products, although the prices of flats did decline, but in the long product space the pricing remained better and positive. In the month of January, I would say that we are, even if you look at December, just to go back a bit, we had 13 million tons of demand in the month of December in India, which typically on a closing quarter in a weak price environment would have been so. But that is because of the traction which is now coming in. So January also, January to March overall, we would expect let's say a similar rate if not a slightly better. So we would end the year with 150 million tons of demand, incrementally 14 million tons up. So demand point of view, I think we are more or less at about 10% level up in India compared to what we were last year, which is quite a good growth.

First on the first question, the volumes from JSW as we had guided will be very close to the guidance, maybe in the range of about 98%. We expect this quarter's volume to be strong because the JML capacity is ramping up and we will see increased volume in January, February, March from the new facility and also aided by BPSL reaching rated capacity levels. So volumes will be strong in this quarter. From a price perspective, as I said, long product prices got a traction because of a better project pull. I would expect this pace to continue. On the overall pricing, I feel the prices have bottomed out. We would see lower imports specifically now from flats coming into India and that will play into stabilizing prices in this quarter and going ahead. So we would see that support margin. So strong demand, better volumes from JSW, we will also have likely lower costs and stability in pricing because of lower imports would be supportive for growth and margin.

Yeah, so EBITDA per tonne is one thing. Let me first answer the coal point. Coking coal last quarter went down by about $34, so that is something which was positive. We expect coking coal to further go down in this quarter between $1 to $15. On the iron side also some moderation has taken place, has reduced in the month of Jan and that will play positively into our pricing. We also do expect, as we have seen in the OMC auction, that the prices have fallen somewhat. So we expect maybe another correction which would come in the near future. So that would be positive for the cost as well.