Jindal Stainless (Hisar)

Hello Folks,

I being from a steel background(mainly stainless steel) as of now the demand of stainless steel is a little lower than what it was 6-8 months back and the demand for scrap is also subdued.
Recently there has been a major drop in Pure Nickel Prices. So I though i should write about this in the thread not a lot has been mentioned about this on how Raw Material could really impact Jindal Stainless.
Now the stainless steel scrap is being sold lower than the its value as per Nickel’s Current prices.(this talks a lot about the demand)

I have attached a picture of Nickel Prices below as it is trading at 52 week low. For all those invested and interested in Jindal Stainless please note that this could result in margin erosion

1. There is a lot of material coming from China at cheaper prices.
2. The base raw material has dropped drastically.

Not Invested.
Views are welcome.