According to Argus, 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 26.4 million tonnes across its India and US operations during 2023-24, up by 9.4% from a year earlier, it said on 8 April. India accounted for 97% of its output, with domestic production rising by 8.2% to 25.55 million tonnes from the previous year.

Production at JSW's US operations also rose by 63% to 870,000 tonnes. Domestic output during the January-March final quarter increased by 2.7% to 6.54 million tonnes. The company's capacity utilization in India was 93% for the quarter. JSW aims to raise its capacity from around 29.7 million tonnes per year to 38.5 million tonnes per year in 2024-25. It last month commissioned a 5 million tonne per year 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.