Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

ArcelorMittal Nippon Steel India (AM/NS) has signed a sixth Memorandum of Understanding (MOU) with Posco Maharashtra Steel in India for hot-rolled coil (HRC) supply in 2021. The deal is valued at Rs50,000mn ($683.8mn).


The agreement also provides for an enhanced working relationship between the firms to enhance the quality and develop new value-added finished steel grades.


Mr. Dilip Oommen, chief executive officer of ArcelorMittal Nippon Steel India, stated that the relationship has been longstanding and will strive to deliver high-quality HRC in support toward a Self-Reliant India objective. The HRC is used by Posco Maharashtra for manufacturing cold-rolled coil (CRC) and coated steel selections. 


The AM/NS plant has a 9mn mt annual crude steel capacity and is located in Gujarat on the western side of India. 


($1=Rs 73.12)

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