ArcelorMittal-Nippon warns import curbs may impact India production

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ArcelorMittal-Nippon warns import curbs may impact India production - Business Standard

Quick Summary:

Steel mills in India are already reeling from record high imports of steel and softening local prices that are hurting their profits and could lead to job cuts.

ArcelorMittal Nippon Steel India, a 60-40 joint venture between Luxembourg-based ArcelorMittal and Japan's Nippon Steel, did not respond to a request for comment.

It plans to quadruple its steel capacity in India to 40 million metric tonnes a year by 2035, and was due to start another blast furnace in December in India.