International Steel Mills
May 21, 2021
JSW Steel's U.S. Assets Report ~$31M in Losses
Written by Tim Triplett
Indian steelmaker JSW Steel Ltd. suffered losses of nearly $31 million at its U.S. operations in its fiscal fourth quarter as its mills worked to return to production following pandemic-related shutdowns.
JSW Steel USA idled its Mingo Junction, Ohio, and Baytown, Texas, mills in 2020 in response to poor demand resulting from the COVID-19 outbreak. The company used the downtime to make upgrades to the facilities. The electric-arc furnace (EAF) at Mingo Junction, which has annual capacity of 1.5 million tons, returned to production in March. The Ohio mill is now “ramping up well” as is the Baytown facility, JSW said in its earnings release.
