China has imposed a 37.3% anti-dumping tariff on POSCO's electrical steel imports. This affected the export of POSCO electrical steel to China, and as a result, POSCO expanded exports to India. At the end of this year, India has become the largest export market for POSCO's electrical steel.
Electrical steel is a high value-added product primarily used in transformers, new renewable energies, and electric and hybrid vehicles.
According to statistics from the Korea Iron and Steel Association, POSCO's electrical steel sheet exports totaled 49,029 tonnes in the first three quarters of this year, an increase of 8.1% year on year.
India becomes the largest market for POSCO electrical steel
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