Steel Mills
October 25, 2019
JSW Steel USA Struggles in Latest Quarter
Written by Sandy Williams
JSW Steel divisions in Ohio and Texas both reported EBITDA losses in the second quarter of FY 2019-20. The Ohio mill increased production and revenue, which was offset by inventory writedowns and lower steel prices during the quarter.
JSW Steel-Ohio produced 87,337 metric tons of hot rolled coil during the quarter, an increase from 80,037 MT in Q1 FY 2019-20. Sales volume increased to 98,063 MT, compared to 71,362 MT the prior quarter. The mill reported an EBITDA loss of $31.6 million, which included an inventory writedown of $13.2 million. EBITDA loss in the previous quarter was $36.12 million with an inventory writedown of $18.95 million.
