In August of this year, South Korea's hot-rolled stainlesssteel plate exports exceeded 70,000 tons, which is the fourth month of thisyear, exports exceeded 70,000 tons.
Although the global industry has been hit by the levy oftariff steel by US President Donald Trump this year, the steel industry'sprosperity index is still good. According to World Steel, global production hitanother record in May as capacity utilization climbed.
In this context, the JSW business in Mumbai has been busy:the company announced that it will continue to invest $1 billion. Theinvestment amount is mainly used to purchase equipment to expand productioncapacity. New equipment has been procured in Ohio, and the Texas facility willalso purchase new equipment, which is expected to triple its capacity.
For Rao, business investment is transitional. "Our teamhas increased investment in the United States not because of tariff issues,mainly because the United States has adopted trade remedies, the US economy isquite active, and demand is picking up." He said on Tuesday.
Since last year, JSW Steel has gained more than 60%, andIndia's domestic steel production and profits have also reached new highs. Tomeet local demand in India, the company plans to invest $6 billion to expandcapacity.