JSW Sues Three U.S. Steelmakers
By Metal Center News Staff
on Jun 9, 2021
JSW Steel (USA) Inc. and JSW USA Steel Ohio Inc. have filed a federal court lawsuit in the Southern District of Texas against Nucor, U.S. Steel Corp. and Cleveland-Cliffs. The companies allege the defendants conspired to boycott and refused to supply JSW with slabs beginning in 2018 and continuing through the present.
JSW alleges their steelmaking rivals cost them hundreds of millions of dollars in lost profits, increased their expenses and caused them other damages, and also led to higher prices and significant harm to U.S. steel buyers and significantly fewer jobs for U.S. steelworkers.
Parth Jindal, JSW Steel (USA) board member, said that the defendants have long been the dominant U.S. steel companies and used and continue to use anticompetitive tactics against smaller producers like JSW to succeed at all costs. "We bought into the U.S. market a few years ago and made significant progress in improving our facilities and performance. In 2018, we announced our intention to make substantial investments to further expand and upgrade our facilities. These companies derailed those plans.”
“As we allege, they stated repeatedly they could make semi-finished steel slab in the quantities and quality to meet our needs and that they were willing to sell it to us, but when we tried to get them to move forward, they dragged things out and made excuses. We are now convinced that it was all for show and that, in reality, they never intended to make or sell steel slab to us,” Jindal said.