JSW Steel making news on the markets
While the third largest steel producer in the country, JSW Steel has recently said that it will be considering an option of setting up a new plant, it also highlighted that it will come up in association with the JFE Holdings for the high-grade electrical steel.
It is expected that the new unit will be meeting the rising demand for specialty alloys. It is to be mentioned here that the project announced by the company will be developed jointly with Japan's second-largest steelmaker.
Moreover, the company may finalize the location near JSW`s factory at Vasind in the western state of Maharashtra.
For the record, the Indian steelmakers have already announced a hike of prices by 3-4% in September and it is expected that the rates will move n a uptrend even in the coming few months as well. The joint managing director of the company, M V S Seshagiri Rao recently said that the company is seeing more than 10% plus consumption in the domestic market and it is expected that the demand will rise in the coming six months.