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    Market Segment

    January 24, 2022

    JSW USA Reports Improved Quarterly Results

    Written by David Schollaert

    JSW Steel (USA) Inc., the U.S. subsidiary of Indian steelmaker JSW Steel Ltd., reported pretax earnings of more than $55 million in its third quarter of fiscal 2022 ended Dec. 31, 2021, outperforming year-ago results.

    JSW USAJSW Steel’s EAF sheet mill in Mingo Junction, Ohio, reported third-quarter earnings of $42.12 million on sales of 92,557 net tons of hot rolled coil (HRC) and 74,212 net tons of slabs. The results were a big turnaround from the $21.25 million loss in the same period last year when the mill was idled, but slightly below the $48.28 million the company earned in the prior quarter. Average capacity utilization at the 1.5-million-ton Mingo Junction mill increased to 50%.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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