In November 2024, JSW Steel achieved a consolidated crude steel production of 2.323 million metric tons, reflecting a 5% year-on-year increase compared to the same month in 2023. The performance highlights the company’s continued operational efficiency and growth, despite challenges in the global steel market. The production figures were bolstered by strong performance at JSW Steel’s Indian operations, which saw a 7% increase in production from the previous year. However, the company’s U.S. operations, specifically at JSW Steel USA in Ohio, reported a slight decline in output, contributing to the overall increase being somewhat moderate.
For the Indian operations, JSW Steel produced 2.253 million metric tons in November 2024, up from 21.14 LMT in November 2023. This increase represents a solid growth trajectory for the company’s domestic steel business, fueled by higher demand and the company’s ability to maintain high levels of production efficiency. Capacity utilization in India for November stood at an impressive 94%, reflecting the company's ability to optimize its production capabilities and meet rising demand in the domestic market. The 94% utilization rate indicates that JSW Steel’s Indian facilities are operating at nearly full capacity, underlining the company’s strong foothold in India’s steel manufacturing sector.
In contrast, JSW Steel USA, which operates a steel plant in Ohio, saw its production decline by 22% year-on-year. The plant produced 0.70 million metric ton of crude steel in November 2024, down from 0.90 LMT in the same month last year. This reduction in output can be attributed to a variety of factors, including softer demand in the U.S. market, logistical challenges, and the ongoing adjustments in the global steel market. Despite the drop in U.S. production, JSW Steel’s global consolidated figures still showed an overall growth due to strong performance in India.
In terms of capacity, JSW Steel's Indian operations are performing at a high level of efficiency. The 94% capacity utilization rate indicates that the company is operating close to its maximum production capacity, a testament to its ability to meet the rising steel demand in India. The high utilization rate also underscores the effectiveness of JSW Steel’s operational strategies, which include cutting-edge technologies and process improvements aimed at increasing productivity and maintaining a competitive edge in the market.
