JSW Steel increased steel production by 13% y/y in July-September

In July-September 2023 (II quarter of the 2023/2024 financial year), the Indian steel company JSW Steel increased its consolidated steel production by 13% compared to the same period last year – up to 6.41 million tons. BS reports about it.

Compared to the previous quarter, JSW Steel reduced its consolidated steel output by 3%. The decline was mainly due to planned production shutdowns in India and reduced capacity utilization at a plant in Ohio, USA due to adverse market conditions.

JSW’s Indian mills produced 6.27 million tonnes of steel, up 12% compared to Q2 FY2022/2023 and down 1.6% q/q. Steel production at JSW Steel USA – Ohio increased by 75% compared to the same period in 2022.

The company notes that the merger of the joint venture between Creixent Special Steels Limited and its subsidiary JSW Ispat Special Products Limited (JISPL) was completed on July 31, 2023. The company’s production volumes in India include the steel production of JISPL and its subsidiary Mivaan Steels Limited.

As GMK Center reported earlier, JSW Steel in 2022-2023 financial year increased steel production by 25% compared to the 2021-2022 financial year – up to 23.62 million tons. The volume of steel production by the Indian company in the fourth quarter of the 2022-2023 fiscal year amounted to 6.37 million tons, which is 12% more compared to the same period of the previous financial year