Sajjan Jindal-led JSW Steel has reported 13 per cent increase in consolidated September quarter production at 6.41 million tonnes (mt), against 5.68 mt logged in the same period last year.

The company’s output in India was up 12 per cent at 6.27 mt (5.60 mt) while in the US it was up at 0.14 mt (0.08 mt)

However, quarter-on-quarter production was down three per cent, compared to 6.61 mt logged in September quarter last year, while in India it was down two per cent against 6.37 mt logged last year.

The quarter-on-quarter decline was due to a planned shutdown in India and lower capacity utilisation in the US due to market conditions, said the company.

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In September, Indian steel mills faced a sharp drop in exports, down by over 73%, while imports remained stable. Exports for the first half of FY23 decreased 10%, while imports increased by 13%, according to the Steel Ministry report.

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The merger of the joint venture Creixent Special Steels and its subsidiary JSW Ispat Special Products with the company was completed July-end.

Subsequently, the Indian operations’ production volumes include the crude steel production of JISPL and its subsidiary Mivaan Steels, and the corresponding period’s production volumes have been re-stated to give effect to the merger, said the company.

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