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Kallanish Kallanish

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September, 27th 2020

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JAN 24

JSW Steel USA sees third quarter operating loss


Indian steelmaker JSW recorded earnings losses for its plate, pipe, and sheet operations in the US during its fiscal third quarter, Kallanish learns from the company’s earnings review. 

JSW Steel USA’s plate and pipe mill in Baytown, Texas, saw a loss of $12.6 million in earnings before interest, taxes, depreciation and amortisation (Ebitda) in the quarter ended 31 December. Plate production was 70,479 tonnes and pipe production was 14,669t, yielding capacity utilisation rates of 29% and 11%, respectively. 

The company’s Mingo Junction, Ohio, sheet operation saw an Ebitda loss of $25.19m with production reaching 74,272t. No capacity utilisation figure was given. 

“The US economy continues to witness strong consumer spending and a buoyant housing market. Going ahead, some moderation is expected in consumer spending, while fading away of trade tension is likely to improve business sentiment and support moderate expansion in the US manufacturing sector,” JSW says.