Steel Mills

JSW Steel USA earnings fell in quarter ended Dec. 31

Written by Ethan Bernard

January 30, 2025

JSW Steel USA’s operations took earnings hits in the quarter ended Dec. 31. And Indian parent company JSW Steel believes potential tariff hikes by the Trump administration could hamper declining inflation in the US.

JSW Steel USA operates the Mingo Junction slab and hot-rolled sheet mill in Ohio and the Baytown plate and pipe and tube mill in Texas.

The Mingo Junction operations reported a wider loss in the company’s fiscal third quarter of 2025, while the Baytown operations swung to a loss from a year earlier.

JSW Steel USA Ohio

The Mingo Junction mill produced 231,872 metric tons (mt) of steel in fiscal Q3’25. That’s off 13% from a year earlier.

The company sold 128,394 mt of slab in the quarter, down 12% from 146,383 mt in the year-earlier period. Meanwhile, it sold 63,817 mt of HRC in the same comparison, up 13% from 56,355 mt.

At the same time, JSW Steel USA’s operating EBITDA loss widened to $15.6 million from a $ 6.4 million loss a year earlier. In the same time frame, revenue decreased 13% to $123.6 million.

The company said the loss was mainly due to lower sales. However, JSW said capacity utilization improved to 64% during the quarter following a maintenance shutdown in the prior quarter.

Baytown operations

Baytown produced 109,490 mt of plate in fiscal Q3’25, up 12% from a year earlier. In the same time frame, its pipe production rose 56% to 11,287 mt.

The plate and pipe mills reported capacity utilizations of 43% and 8%, respectively, during the quarter.

Plate sales rose 4% year over year to 90,796 mt in the quarter, while pipe sales more than doubled to 12,210 mt.

The company swung to an EBITDA loss of $2.3 million in the quarter vs. a profit of $18.7 million a year earlier. Revenue decreased by 9% to $120.4 million.

The company said EBITDA was down sequentially due to lower sales and slumping plate prices.

US outlook

Parent company JSW Steel said robust growth continues in the US, with labor markets cooling gradually.

“Supportive fiscal policy such as increased investments in domestic manufacturing and tax cuts could further accelerate near-term growth,” JSW said in a statement on Jan. 24.

“Potential tariff increases could disrupt the ongoing decline in inflation,” the company added.

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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