Steel Mills
January 25, 2020
JSW USA Mills Suffer Losses
Written by Sandy Williams
JSW Steel USA reported dismal results for the third quarter of 2020, but the company expects losses will be reduced substantially in the fourth quarter.
JSW Steel – Baytown produced 70,479 metric tons of plate and 14,669 MT of pipes during the third quarter of 2020, reported JSW Steel India. The plate mill operated at a 29 percent capacity utilization and the pipe mill at 11 percent capacity during the quarter. The division reported an EBITDA loss of $12.5 million for the quarter due to lower production and an inventory writedown of approximately $1.77 million.
