Japanese steelmaker JFE Steel Corporation has announced that it will invest about JPY 70 billion ($458.83 million) to build a new continuous galvanizing line at its Fukuyama plant.
Accordingly, scheduled for commissioning in October 2028, the new line will have a production capacity of 360,000 mt per year, mainly producing alloy hot dip galvanized steel sheets. With the investment, the company intends to cater to the increasing demand of the automotive industry for ultra-high strength steel sheets in the foreseeable future.
Currently, automotive companies are manufacturing lighter and stronger bodies to meet environmental and safety regulations and so demand for ultra-high strength steel sheets is expected to increase.