Production declines 3% QoQ basis
JSW Steel reported its group combined crude steel production at 5.68 million tonnes for Q2 FY'23 registering a growth of 12% YoY, including the production at jointly controlled entities.The crude steel production for Q2 FY'23 declined 3% sequentially from 5.88 million tonnes in Q1 FY'23. This drop in production was attributable mainly to extended maintenance shutdowns in JISPL, subdued market conditions in USA and lower capacity utilisation in other locations in India due to supply and logistics constraints in sourcing of iron ore and steep decline in export volumes.
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