JSW Steel reports 62% y-o-y jump at 4.93 mt in Q1 FY22

Steel manufacturing major JSW Steel reported a 62% increase in crude steel production for the first quarter of the fiscal year, totalling 4.93 million tonne (mt), compared to the same period the previous year. According to the company, the combined crude steel production of the JSW Group was 5.07 million tonnes, a 65% increase year on year. This includes the jointly controlled entities Bhushan Power and Steel Ltd and JSW Ispat Special Products Ltd. Crude steel production was around 4.37 million tonnes in the previous quarter. The company's newly acquired steel business reported 0.69 million tonnes of production in the first quarter of FY22. The subsidiary of JSW Group reported that capacity utilisation for its India operations was 91% in the first quarter, down from 93% in the previous quarter, as the company delivered over 65,000 tonnes of liquid medical oxygen. JSW Steel USA produced 0.14 million tonnes during the first quarter. JSW Steel Ohio told the media that the electric arc furnace was restarted in March 2021 after refurbishment and capacity was increased. Image Source Also read: Crude steel output of Tata Steel surges over 43%, sales by 35% Also read: JSW Steel plans Rs 25k cr investment to increase capacity to 37 mt