JSW Steel Sees 9% Surge in October Output Boosted by Indian Operations

JSW Steel reported a 9% increase in consolidated steel output for October, driven by a robust performance in its Indian operations. The company's total production reached 24.95 lakh tonnes, up from 22.81 lakh tonnes in the previous year, despite a planned capacity shutdown.

JSW Steel announced a significant 9% year-on-year rise in its consolidated steel output for October, reaching a total of 24.95 lakh tonnes. This growth was primarily propelled by its strong Indian operations, the company revealed in a recent exchange filing.

In October of the previous year, JSW Steel had produced 22.81 lakh tonnes. The increase in production highlights a robust performance within India, where output climbed 10% year-on-year to reach 24.12 lakh tonnes, up from 21.99 lakh tonnes recorded in the same month last year.

Despite the impressive figures, the capacity utilization in India dipped to 83% due to the shutdown of Blast Furnace 3 for capacity upgrades at the Vijayanagar plant, set to resume in February. As JSW Steel leads the diversified USD 23 billion JSW Group, its interests span sectors such as energy, infrastructure, and venture capital.

(With inputs from agencies.)