JSW Steel’s crude steel output up 37% in Q3

India’s largest steel producer, JSW Steel, has reported a 37% increase in crude steel production to 2.98 million tonnes for the quarter that ended on September 30.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

During the quarter, sales increased by 44% to 3.13 million tonnes, JSW Steel said on Tuesday October 29. Flat product sales were up by 56% to 2.59 million tonnes and long product sales rose by 14% to 460,000 tonnes.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter were Rs22.34 billion ($364.4 million). Net profit after tax was Rs1.01 billion ($16.5 million).

At its US operations, the company recorded Ebitda losses of $340,000 from its coal mines and $2.05 million at its plate and pipe mill. However, these figures were affected by a 5.16% depreciation in the value of the rupee against the dollar.

The US steelmaking operations produced 92,000 tonnes of plate and 9,000 tonnes of pipes, at capacity utilisation of 37% and 6%, respectively.

The company’s iron ore mines in Chile produced 220,000 tonnes and shipped a similar amount of iron ore concentrate, reporting Ebitda of $5.34 million for the July-September quarter.

In its outlook for the next six months, JSW said that higher rural spending after a good monsoon season, and an expected uptick in the investment cycle, is likely to drive an improvement in steel demand growth.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.