The supply-demand situation 2-3 years out is now looking bad for the industry.
- Xpro: 1 line already and adding 2 more lines. This itself will take care of ~75% of total domestic industry’s demand
- SRF: new entrant with 1 line as announced recently.
- Jindal: 1 line already operational and capacity utilization being ramped up. Getting the right quality is unlikely to be a challenge for them given that one of their subsidiaries is a global leader in this segment.
It seems like the industry will be in an over-supply situation in 2-3 years time unless the companies can crack the export market.
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