JSW Steel gained 1.07% to Rs 731 after the steel maker announced that its US subsidiary has signed a long-term agreement with Allegheny Technologies Inc. (ATI) for the conversion of carbon steel slabs into hot rolled coils.
JSW Steel USA Ohio Inc, a subsidiary of JSW Steel has signed a long-term agreement with Allegheny Technologies Inc. for the conversion of carbon steel slabs manufactured at JSW Steel USA's facility in Mingo Junction, OH into hot rolled coils at ATI's Hot Rolling and Processing Facility (HRPF) in Brackenridge, PA.
As per the terms of the agreement, ATI is expected to hot-roll a significant percentage of carbon steel slabs produced by JSW Steel USA. The agreement expands JSW Steel USA's ability to supply high quality hot rolled products required by its customers in the U.S thus enhancing its product portfolio.
JSW Steel, a flagship company of the JSW Group, is an integrated steel manufacturer in India with an installed capacity of 18 MTPA.
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