Jindal Stainless Ltd. Exports to Hit Five-Year Peak Next Fiscal Year

SEATTLE (Scrap Monster): Jindal Stainless Ltd, India’s largest stainless steel manufacturer, expects its exports to hit five-year peak in the next fiscal year. The exports are expected to account for 25-30% of the overall sales in the next fiscal year, when compared with 12% during the ongoing fiscal year, said Abhyuday Jindal, Managing Director, Jindal Stainless.

According to him, the company anticipates huge jump in shipments to Russia. The demand in that country has started improving. A few shipping channels and banking channels have already opened up. Jindal Stainless has been a preferred supplier for Russian buyers. In addition, it also plans big entry into markets in other regions, including South America and the Middle East, where it plans to sell cold-rolled coil and sheets.

Jindal Stainless Ltd. has asked the Indian government to urge the EU to review its import quotas and high tariffs, which in turn has limited the volume of exports to that region. It must be noted that European countries account for approximately 40% to 50% of the company’s total exports.

The domestic sales of the company have been badly impacted by severe dumping of stainless steel products from China.

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