By Amruta Khandekar

April 9, 2024 - Indian producer JSW Steel posted its highest annual crude steel output in the 2023-24 fiscal year ended 31 March, while its fourth-quarter production also increased.

JSW produced 26.4mn t across its India and US operations during 2023-24, up by 9.4pc from a year earlier, it said on 8 April.

India accounted for 97pc of its output, with domestic production rising by 8.2pc to 25.55mn t from the previous year. Production at JSW's US operations also rose by 63pc to 870,000t.

Domestic output during the January-March final quarter increased by 2.7pc to 6.54mn t. The company's capacity utilisation in India was 93pc for the quarter.

JSW aims to raise its capacity from around 29.7mn t/yr to 38.5mn t/yr in 2024-25. It last month commissioned a 5mn t/yr hot strip mill at its Vijayanagar steelworks in Karnataka state. It had also announced plans to add blast furnace capacity at its Dolvi plant in Maharashtra state.