JSW USA Reports Improved Quarterly Results

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 USA JSW 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.