Steel Mills
October 26, 2020
Losses Keep JSW Steel USA Idled Until March 2021
Written by Sandy Williams
JSW Steel’s assets in Texas and Ohio both reported losses for the second quarter of FY 2021. At Baytown, the pipe mill remained idled and the plate mill operated at only 22 percent of capacity, producing 54,137 metric tons. EBITDA for the subsidiary was positive at $17.24 million, but only due to a $30.4 million one-off credit.
The Mingo Junction, Ohio, facility produced 4,501 metric tons of hot rolled coil before being idled early in the quarter. Revenue was $18.43 million, but the segment posted an EBITDA loss of $10.52 million.
