Copying and distributing are prohibited without permission of the publisher
***COMMENT: Japan's steelmakers see future in India
January 29, 2010 - 12:32 GMT
Location:
Singapore
KEYWORDS:
Nippon
,
Japan
,
JFE
,
steel
,
Sumitomo
First JFE Steel, then Sumitomo, now Nippon Steel. Japan’s top steelmakers are all hurrying for a stake in India’s future as a major carmaker and huge market for automotive steels.
Nippon Steel and Tata Steel last week said they would jointly spend 35 billion yen ($388 million) with Tata Steel to produce auto steels in India.
In November last year, JFE Steel said it would do something similar with India’s JSW Steel. And Sumitomo Metal Industries last month said it may take a stake in a Bhushan Steel mill in eastern India.
The rush by Japanese steelmakers to India reflects a rapid adjustment in strategy, as the steelmakers tout their niche expertise to exploit post-crisis opportunities abroad as home prospects still look...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
Subscribe
A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.
Subscribe
Free trial
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.
Free trial