India’s JSW steel reported its consolidated crude steel production increased by 11 pct YoY to 6.43 mln tons in the first quarter of FY24.
Within this production figure, JSW Steel’s Indian operations played a substantial role, contributing 6.19 mln tons. This reflects a growth of 10 pct compared to the previous year, when 5.62 mln tons were produced. However, on a quarterly basis, there was a decline of 3 pct.
Furthermore, JSW Steel’s USA Ohio plant saw a substantial increase in production. It produced 240,000 tons in the first quarter of FY24, compared to 160,000 tons in the same period of the previous fiscal year.
Additionally, JSW Steel’s subsidiary, JSW Ispat Special Products, also experienced growth in production. It produced 180,000 tons in the first quarter of FY24, as opposed to 110,000 tons in the corresponding period of the previous fiscal year.
JSW Steel serves as the flagship business of the diversified JSW Group, which has diverse interests in energy, infrastructure, cement, paints, sports, and venture capital. Over the past three decades, JSW Steel has evolved from a single manufacturing unit to become India’s leading integrated steel company, with a combined capacity of 28.5 mln tons per annum in India and the USA (including capacities under joint control). As part of its future growth plans in India, JSW Steel aims to increase its total capacity to 38.5 mln tons per annum by FY25.
