JSW Steel boasts 13% YoY growth in Q2 FY24 crude steel production

In an impressive display of resilience and growth, JSW Steel unveiled its consolidated Crude Steel production figures for Q2 FY24, registering a robust 13% growth YoY, with a total production hitting 6.41 million tonnes. However, the quarter-on-quarter (QoQ) figures experienced a slight dip of 3%. This decline is attributed to planned shutdowns in Indian operations and a decrease in capacity utilization at their USA-Ohio facility, largely due to prevailing market conditions.

Diving deeper into the production specifics:

• Indian Operations for Q2 FY24 stood at 6.27 million tonnes, marking a 12% growth YoY when compared to Q2 FY23’s 5.60 million tonnes. This, however, is a minor 2% decrease QoQ from Q1 FY24’s 6.37 million tonnes.
• JSW Steel USA – Ohio reported a production of 0.14 million tonnes in Q2 FY24, showing a significant contrast from Q1 FY24’s 0.24 million tonnes.
• Evaluating the performance in the first half of the fiscal year, Indian Operations showcased an 11% YoY growth, with H1 FY24 production reaching 12.38 million tonnes compared to H1 FY23’s 11.19 million tonnes.
• JSW Steel USA – Ohio’s H1 FY24 production stands at 0.38 million tonnes.
• In sum, Consolidated Production for H1 FY24 sits at 12.76 million tonnes, reflecting a 12% YoY growth from H1 FY23’s 11.43 million tonnes.
• This upward trajectory in JSW Steel’s YoY consolidated Crude Steel production underscores the company’s adaptability and the overall strength of the steel industry, even in the face of operational challenges and fluctuating market conditions.