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Indian stainless steel prices continue to face downward pressure due to a surge in low-priced imports from China, Vietnam, and Indonesia, said Abhyuday Jindal, Managing Director of Jindal Stainless.
Imported stainless steel is currently priced 5–10% lower than domestic material, creating an uneven playing field for local producers. The situation has worsened as global restrictions on Chinese exports divert excess volumes toward India.
To safeguard the domestic industry, the Indian Steel Association has petitioned the Directorate General of Trade Remedies (DGTR) for the imposition of anti-dumping duties. The investigation, initiated in September, aims to assess whether subsidized imports are hurting Indian manufacturers.
Despite these challenges, Jindal Stainless reported a 33% year-on-year rise in quarterly profit, supported by strong domestic demand and steady capacity utilization. However, Abhyuday Jindal emphasized that sustained policy support and quality control measures are essential to prevent market distortion and protect MSME producers.
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