[SMM Stainless Steel Market Flash] Jindal Stainless: EU Quota, Not CBAM, Is What Cuts Its Europe Volumes

Published: Aug 14, 2026 14:55 (GMT+8)

Save

On its Q1 FY27 earnings call on August 4, India's Jindal Stainless (JSL) said reduced EU import quotas, not CBAM, are what will make its Europe volumes look smaller, adding it is confident of filling its quota allocation. On CBAM readiness, JSL said it has internationally accredited verifiers in place and is waiting on the EU to appoint verifiers, noting its scrap-based route — scrap feed is about 85-90% at Hisar and 70-75% at Jajpur, over 90% sourced from India and Southeast Asia. Exports are roughly 10-11% of volume, with Europe 30-40% and Europe plus the US around 60%; JSL is diversifying into Japan, South Korea and Brazil. India's anti-dumping public hearing is set for September 9, while the QCO suspension is expected to run to March 2027.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

12 hours ago

SMM High-Grade NPI Sentiment Factor Decreases to 1.78 Amid Ongoing Market Tug-of-War

[SMM Nickel Flash] On September 21, the SMM high-grade NPI market sentiment factor stood at 1.78, down 0.01 MoM. The upstream sentiment factor for high-grade NPI was 1.84, down 0.02 MoM, while the downstream sentiment factor for high-grade NPI was 1.72, flat MoM. The tug-of-war in the NPI market continued today.

12 hours ago

13 hours ago

El Niño Drought in Indonesia May Affect Nickel Pig Iron Production at IMIP Park

[SMM Nickel Flash] September 21 - According to SMM, due to the El Niño phenomenon, Indonesia has experienced drought conditions, with local production water supply under pressure and transportation conditions disrupted. Nickel pig iron production at Indonesia's IMIP industrial park may be affected in October, though specific production plans have not yet been clarified. Given current market inventory levels, the impact on the overall supply-demand pattern is expected to be limited in the short term. SMM will continue to monitor changes in water supply and production operations at the park.

13 hours ago

14 hours ago

Data: SHFE, DCE market movement (Sep 21)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 21 Sep , 2026

14 hours ago