JSW Steel group has reported 12% year-on-year (Y-o-Y) growth in its combined steel production at 5.68 million Tonnes (MT) in Q2 FY23 as compared to 5.07 MT in Q2 FY22 and it has reported 3% fall on quarter-on-quarter (Q-o-Q) basis over 5.88 MT in Q1 FY23.
JSW Steel group
The sequentially drop in production was attributable mainly to extended maintenance shutdowns in JSW Ispat Special Products (JISPL), subdued market conditions in USA and lower capacity utilization in other locations in India due to supply and logistics constraints in sourcing of iron ore and steep decline in export volumes.
The company has reported 36% Y-o-Y growth in steel production (Indian Operations) at 5.57 MT in Q2 FY23 as compared to 4.10 MT in Q2 FY22 and 1% drop on Q-o-Q basis over 5.62 MT in Q1 FY23.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.