JSW Texas plate, pipe output up, utilization low

JSW Steel USA's plate steel production increased in the latest quarter from the prior year, but utilization rates remained low.

The India-based steelmaker's US plate mill in Baytown, Texas, produced 80,000st of steel in its fiscal second quarter ending 30 September, giving it a utilization rate of 34pc, up from the 52,000st a year earlier at a 22pc utilization rate.

JSW USA's Texas pipe mill produced nearly 20,000st in the second quarter at a utilization rate of 14pc, a 73pc increase compared to the 11,500st produced in the same period prior year, when the utilization rate was 8pc.

Second quarter plate sales were up by 53pc year over year to 75,000st, while pipe sales increased by 68pc to 19,900st.

Through the six months ending 30 September, plate production increased by 37pc to 161,000st, while pipe production increased by 47pc to 34,000st. Plate sales increased by 39pc to 141,000st, while pipe sales increased by 45pc to 34,500st.

The increasing production comes after JSW halted construction in August on a new electric arc furnace mill at its Texas facility. The company cited market conditions and the US trade policy environment for the decision to pause the building of the furnace. It is supplying Baytown with slab imported as well as produced at its Mingo Junction, Ohio, flat-rolled mill.

The company did not provide production figures or updates for the Mingo Junction mill, which it restarted in 2018.

source: Argus Media