Section

Jindal Stainless cuts export forecast on Red Sea crisis, weaker EU, US demand

By Economic Times - 9 months ago
India's biggest stainless steel manufacturer hopes to ship out 10-12% of its estimated overall sales of over 2.1 million metric tons in 2023/24, down from its previous forecast of 15%, Abhyuday Jindal, managing director of Jindal Stainless, told Reuters in an interview. The company is exploring "new options" and a "variable freight model", Jindal said, as part of efforts to deal with the challenges posed by attacks launched by the Iran-allied Houthi militia on ships in the Red Sea. He did not give details of the options being weighed by his company.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.