JSW Steel Launches JSW Magsure, an Advanced Coated Steel Product

JSW Steel has invested ₹500 crore for an annual production capacity of 0.9 million tonnes across its Karnataka and Maharashtra plants.

JSW Steel has announced on May 30 that it is expanding its product lineup by including an advanced type of coated steel, named JSW Magsure. According to the exchange filing by the company, the new product launch aims to reduce the dependence on imported coated steel in the Indian market. The company has invested about ₹500 crore to produce 0.9 million tonnes of JSW Magsure per annum at plants in Karnataka and Maharashtra.

JSW Steel aims to achieve a 50% share in the coated steel segment within a year of launching the new product in India. The company has positioned itself as the first and only Indian steel company to manufacture and market a Zinc-Magnesium-Aluminium alloy coated steel product domestically. The unique chemical composition of JSW Magsure has already been patented by the company, adding to its individuality in the market.

Designed for high-temperature environments, JSW Magsure is particularly well suited for projects that require flexibility and durability. The zinc, magnesium and aluminum alloy steel market in India has grown significantly from 2020. It has grown more than six-fold from around 15,000 MT to over 120,000 MT in FY24 and so far the imports meet every requirement of the market.

In the current economy, demand for zinc, magnesium and aluminum alloy coated steel in India is expected to double to 250,000 tonnes, with a market value of ₹2,200 crore The renewable energy industry, which needs durable and reliable materials for its infrastructure, seeks to -be a key driver of growth.