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JSW Steel’s February crude steel production increased

JSW Steel announced a 5% year-on-year increase in consolidated crude steel production for February 2024, reaching 21.5 lakh tonnes (2.15 million tonnes) compared to 20.51 lakh tonnes (2.051 million tonnes) in the same month last year.

JSW Steel’s February crude steel production increased

The company's India operations contributed 20.59 lakh tonnes (2.059 million tonnes) of steel, reflecting a 4% rise from February 2023's 19.78 lakh tonnes (1.978 million tonnes), with a capacity utilization rate of 92%. Additionally, JSW Steel USA – Ohio reported steel production of 0.91 lakh tonnes (91 thousand tonnes), marking a 24% increase from February 2023's 0.73 lakh tonnes (73 thousand tonnes).

The appointment of Robert Simon as Chief Executive Officer of JSW USA was announced recently, where he will oversee the entire business, including slab, coil, pipe, and plate production and sales at Baytown and Mingo Junction.

In January, JSW Steel Ltd reported a significant growth in third-quarter profit for the financial year 2023-24, reaching Rs 2415 crore (approximately $316.95 million), a 392.9% increase from Rs 490 crore (approximately $64.24 million) in the third quarter of FY23. Revenue from operations also saw a rise, reaching Rs 41,940 crore (approximately $5.51 billion), up 7.2% from Rs 39,134 crore (approximately $5.13 billion) in the corresponding quarter of the previous year.

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