Red Sea crisis might impact Jindal Stainless’ exports in Q4 FY23-24
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Update time : 2024-01-24 20:18:18
Jindal Stainless Limited (JSL) indicated that because of the crisis in the Red Sea, its export shipment might be impacted, and it revised its stainless steel export growth target in the fourth quarter of the fiscal year 2023-24 from 15% to around 12%.
However, despite the global stainless steel market slowdown, the strong domestic demand makes the company's outlook optimistic.
Besides, the company’s board also approved making Spain's Iberjindal SL become a wholly-owned subsidiary of JSL. The company currently has 65% of its Spanish subsidiary.
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