JSW Steel USA signs agreement with Allegheny Technologies to deliver high-quality HRC products

JSW Steel on Tuesday, May 4, 2021, announced that its subsidiary, JSW Steel USA Ohio Inc, has signed a long-term agreement with Allegheny Technologies Inc. (ATI) for the conversion of carbon steel slabs manufactured at JSW Steel USA's facility in Mingo Junction, (Ohio) into hot-rolled coils (HRC) at ATI's Hot Rolling and Processing Facility (HRPF) in Brackenridge, Pennsylvania.

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. Securing access to ATI's HRPF, which is one of the world's most powerful hot-rolling mills, enables JSW Steel USA to produce materials that maintain high strength at high temperatures. At the same time, ATI increases its capacity utilization of its highly automated HRPF in a capital-efficient manner that provides a reliable source of operating cash flow.

JSW steel on Tuesday closed at 715.70 today, which was 7.55 points or 1.04 per cent lower than the previous day's closing level of 723.25 on NSE.