Stainless Steel

Stainless steel industry deserves dedicated policy: Jindal Stainless MD

Abhyuday Jindal has said the stainless steel industry needs a standalone policy rather than a mere chapter in the National Steel Policy

Stainless steel manufacturers seek anti-dumping duties on cheap imports

The domestic stainless steel industry has filed a petition with the Directorate General of Trade Remedies (DGTR) to consider anti-dumping duties on cheap imports, which are posing a challenge to local players, Jindal Stainless Managing Director Abhyuday Jindal has said. The Indian Stainless Steel Development Association (ISSDA), on behalf of the industry, has filed the application to investigate the dumping of stainless steel items in the domestic market from a select group of countries, Jindal said, adding that the industry is now waiting for the DGTR to begin its investigation. The DGTR, under the Ministry of Commerce, is the apex authority for administering all trade remedial measures, including antidumping, countervailing duties and safeguard measures. In an interaction with PTI, Jindal said that the application was filed around the end of June. "DGTR also takes two to three months to start an investigation," he added. When asked if there is a need for a duty on an urgent basis

From cooktops to cutlery: How to pick the right cookware for your kitchen

With dozens of materials, coatings, and claims in the market, choosing cookware has become as complex as cooking itself. Here's a guide to help you buy smart - and safe

Domestic stainless steel use grows 84% in 5 yrs to 4.8 MT in FY25: ISSDA

Domestic stainless steel consumption has registered a growth of 84 per cent over the last five years to reach 4.80 million tonnes in FY 2024-25, industry body Indian Stainless Steel Development Association (ISSDA) has said. The demand has been driven by sectors like infrastructure, railways, airports, metros among others, ISSDA President Rajamani Krishnamurti said in a presentation at the ongoing Global Stainless Steel Expo (GSSE) 2025. As per the data, in FY 2020-21 the consumption of stainless steel in India was at 2.61 million tonnes. It rose to 3.46 million tonnes (a rise of 33 per cent (y-o-y) in FY 2021-22. The demand grew to 3.94 million tonnes in 2022-23 (14 per cent rise y-o-y) and touched 4.49 million tonnes mark in 2023-24 (14 per cent y-o-y) before reaching 4.80 million tonnes in the financial year ended March 31, 2025. "The demand has been mainly on the back of strong growth in consumption from sectors such as building and construction, infrastructure projects, structu

India's stainless steel demand to grow 7-8% annually over 2-3 years: ISSDA

The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association (ISSDA) said on Wednesday. The overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025). Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event. "India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day conference. The per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he added. Low consumption as against the world average provides a grea

Jindal Stainless Q4 net profit up 18% at Rs 591 cr on higher volumes

Jindal Stainless reported an 18 per cent rise in Q4 net profit to Rs 590.99 crore on higher sales volume and is optimistic about export growth amid new US tariff rules

Fearing dumping of stainless steel, JSL MD presses for 25% imports duty

Jindal Stainless' managing director Abhyuday Jindal on Thursday pressed for a duty of up to 25 per cent for imports to protect domestic manufacturers against a possible dumping of goods into the country. US President Donald Trump's decision to impose a 25 per cent import tax on steel and aluminum will be beneficial for the domestic industry, he said, explaining that such a tariff has been slapped on India since Trump's first term and the latest move will create a level playing field. However, the US move may lead to products from across the world reaching India, which continues to be a growing market, he said. "If other markets are all getting closed, then they will come to India because India is growing. There is only a basic 7.5 per cent customs duty which is not enough," Jindal told reporters on the sidelines of an event here. "We need some kind of support from the government, some kind of protection, some support to Indian manufacturers needs to be given," he added. The indust

Bansal Wire Industries Q3 results: PAT jumps two-fold to Rs 42 crore

Stainless steel wires maker Bansal Wire Industries has reported over twofold rise in consolidated profit after tax (PAT) at Rs 41.6 crore, backed by higher revenues. It had posted a Rs 17.2 crore PAT in the year-ago quarter, the company said in a statement on Friday. Revenues rose 52.6 per cent to Rs 924.6 crore from Rs 606 crore in October-December 2023-24. The EBIDTA (earnings before interest, taxes, depreciation, and amortization) rose 99 per cent to Rs 73.1 crore from Rs 35.8 crore a year ago. "During the quarter, we delivered resilient financial performance and strong operational execution, ramping up new lines for value-added products and driving value-driven volume expansion while sustaining momentum through growth initiatives," company's MD & CEO Pranav Bansal said. On the outlook for wire industry, he said challenges like fluctuating raw material prices and geopolitical risks persist and international expansion in the US and Europe offer significant opportunities.

Jindal Stainless races 4% as Nuvama upgrades to 'Buy,' raises target price

The rally in Jindal Stainless shares followed an upgrade by Nuvama Institutional Equities (Nuvama), which raised its rating on the stock to 'Buy' from 'Hold' and set a revised target price of Rs 836

Industry body ISSDA seeks separate policy for stainless steel industry

Raw material securitisation would be one of the major components of the policy. The scope of the policy would also include aspects such as increasing demand and building capacities

Ramkrishna Forgings receives order worth $220 million in North America

Ramkrishna Forgings on Tuesday said it has secured a USD 220 million (about Rs 1,800 crore) order in North America. "The contract spans over a decade and marks the company's foray into a new vertical within the forging sector, focusing on supplying tier 1 customers in the light vehicle segment across North America," the company said in a statement. The value of the contract is USD 220 million, it said. "We are fully committed to delivering superior quality forgings that drive value and innovation in the North American Light Vehicle segment. With this, the company is poised to further strengthen its foothold in the automotive forging market while continuing to explore avenues for growth and expansion," Lalit Kumar Khetan, Whole Time Director & CFO, Ramkrishna Forgings said. The Kolkata-based company is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel and stainless steel forgings. The company's stock settled at Rs 760.80 on Tuesday, up

PMO probing dumping of Chinese stainless steel, said Abhyuday Jindal

Stainless steel producers have petitioned the government to impose countervailing duty (CVD) on Chinese stainless steel products

Aeroflex Industries files draft papers to raise Rs 350 crore through IPO

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has filed draft papers with capital markets regulator Sebi to mobilise Rs 350 crore through an initial share-sale. The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities -- Sat Industries and Italica Global FZC, according to the draft red herring prospectus (DRHP). The OFS comprises sale of 1.23 crore shares by Sat Industries Ltd and up to 52 lakh shares by Italica Global FZC. At present, Sat Industries owns 92.18 per cent stake in the company, while Italica Global FZC holds 6.52 per cent stake. Proceeds from the fresh issue will be utilised to the extent of Rs 35 crore for the payment of debt, Rs 84 crore for funding its working capital requirements, and a certain amount will be used for general corporate purposes and acquisitions for inorganic growth. According to merchant banking sour

UK's trade panel proposes lifting bar on Indian stainless steel

In its initial findings, the UK's Trade Remedies Authority (TRA) has proposed that a countervailing measure on imports of stainless steel bars and rods from India be revoked. Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin. The TRA set out in its Statements of Essential Facts (SEF) on Tuesday that revoking the measure would be unlikely to cause injury to the UK industry. "As part of its transition review, the TRA found that while there have been subsidised imports of the goods while the measure has been in place, and this will likely continue, injury to UK industry would be unlikely to recur if the measure was no longer applied," a UK government statement notes. "This was determined after the TRA found evidence suggesting that UK producers supply only limited amounts of these bars and rods to the UK market, with the majority of their production being exported. Therefore, the TRA found there

Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

Jindal Stainless Hisar Q2 profit after tax falls 49% to Rs 253 crore

Jindal Stainless (Hisar) Limited (JSHL) on Friday said its profit after tax fell 49 per cent year-on-year to Rs 253 crore in the second quarter ended September 30. The company had clocked Rs 498.58 crore profit after tax (PAT) during the same period of 2021-22, JSHL said in a statement. Its total income rose to Rs 3,957 crore from Rs 3,772 crore in the year-ago quarter. "During Q2, raw material prices saw a downward trend, with nickel prices falling by 24 per cent quarter-on-quarter (q-o-q) and those of ferrochrome by 18 per cent q-o-q. This impacted the realisation and profitability of domestic manufacturers, including JSHL," the statement said. JSHL Managing Director Abhyuday Jindal said the Indian stainless steel industry has suffered a setback due to the export duty levied by the government in May. This duty comes at a time when the domestic market is being dumped with substandard stainless steel imports from China and Indonesia. The industry has made several presentations to

Jindal Stainless to supply 3,500 tonnes steel for USBRL tunnel project

Jindal Stainless will supply 3,500 tonnes stainless steel for the Indian Railway's Udhampur-Srinagar-Baramulla Railway Link (USBRL) tunnel project coming up in Jammu and Kashmir. In a statement, the company said the project is a 272 km-long railway link between Jammu and Kashmir. This will be the first-ever application of stainless steel cable trays in an Indian railway project, the company said. "USBRL will be a milestone in improving the economic landscape of J&K. We congratulate Railways on executing the engineering marvel by overcoming various topographical challenges, and appreciate its decision to choose stainless steel for developing a sustainable railway infrastructure," JSL Managing Director, Jindal Stainless, Abhyuday Jindal, said. According to the statement, company's arm Jindal Stainless Steelway Ltd will supply "EN 1.4404/316L (dual certification) stainless steel grade in 2B finish" for the project owing to its high corrosion resistance, high strength-to-weight ratio,

Domestic stainless steel demand expected to reach 20 MT by FY47: Report

Domestic stainless steel demand is expected to reach 20 million tonne (MT) by fiscal year 2047, according to a report.

European Union hikes tariffs on India, Indonesia stainless steel makers

The European Union has determined that imports of cold-rolled flat stainless steel products from India and Indonesia benefit from unfair subsidies and imposed tariffs

Shanghai stainless steel futures fall on weak downstream demand

Other steel prices on the Shanghai bourse slipped as well