Hunan Province-based Chinese steelmaker LY Steel has lately signed a contract with India's largest oil pipe producer PSL Group to provide 4,600 mt of X60 and X65 pipeline steel as well as technology to PSL. The contract marks LY Steel's entry to the Indian market.
PSL Group is also the largest oil pipe supplier in India, but it still relies on the international market for sales of its high-end pipe steel. During the past few years, LY Steel has been focusing on improving both its equipment and technology. Its X80 and lower grade pipeline steel has been awarded certification by China's General Adminstration of Quality Supervision, Inspection and Quarantine, and has received a favorable response in the market. For the abovementioned supply contract, PSL finally chose LY Steel after first carrying out global research.