JSW Steel's production grew 1 pct in Aug 2024 YoY

JSW Steel reported a 1pct YoY increase in consolidated crude steel production for August 2024, reaching 2.31 mln tons, according to a stock exchange filing.

In India, production rose by 2pct to 2.24 mln tons, up from 2.215 mln tons in August 2023, with a capacity utilization rate of 91pct for the month.

JSW Steel USA-Ohio, however, experienced a decline, producing 67,000 tons in August 2024, down from 71,000 tons in the same month last year.

JSW Steel, a major player in the integrated steel industry, boasts a total capacity of 29.7 mln tons per annum in India and the USA. The company aims for further expansion, targeting a total capacity of 38.5 mln tons per annum in India by FY25 as part of its next growth phase.