[SMM Stainless Steel Flash] Jindal Stainless Named Official Partner of IPL's Sunrisers Hyderabad

Ferroglobe’s South African unit has warned it may halt its remaining furnace operations unless it receives electricity tariff relief by Wednesday. The company, which produces ferrosilicon crucial for steel and stainless steel production, cited a 900% surge in electricity prices since 2007, which now accounts for over half of its total production costs. With an impending 9% Eskom tariff hike, continued operations are deemed financially unviable. Industry leaders highlighted a growing disparity: while government tariff relief talks have prioritized ferrochrome producers, other alloy smelters are left exposed. If a workable tariff (estimated at 62c/kWh) is not granted, Ferroglobe will initiate widespread retrenchments in early April and may shift production entirely out of the country.

According to corporate reports, Jindal Stainless is making its Indian Premier League (IPL) debut by partnering with the Sunrisers Hyderabad (SRH) franchise as its Official Stainless Partner. This strategic alliance aims to significantly enhance brand visibility, connect with a younger demographic, and showcase the diverse applications of stainless steel, from industrial pipes to kitchenware. As India's largest stainless steel producer, the company reported a substantial annual turnover of $4.27 billion (₹40,182 crore) in FY25. Through this high-profile sports endorsement, Jindal Stainless seeks to reinforce its modern brand image while aggressively pursuing an expansion of its melt capacity to 4.2 million tonnes per annum by FY27.

India will engage with Argentina, Indonesia, and Oman next month to secure supplies of critical steelmaking raw materials. Discussions will occur during a major international steel summit in India. The focus includes coking coal, iron ore, lithium, and ferronickel. Indonesia, possessing the world's largest nickel reserves, is targeted as a key supplier of ferronickel for stainless steel. Meanwhile, Oman provides iron ore, and Argentina is a target for lithium and other critical minerals to support state-run NMDC Limited. This initiative aligns with India's strategy to ensure steady raw material supplies to scale up domestic steel production and advance its clean energy transition.