Spot prices in the key Vietnamese import market rebounded strongly in the week to Friday February 19 following the country’s Lunar New Year holiday, sources told Fastmarkets.
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Taiwanese importers of containerized ferrous scrap have had to pay more for their supplies after a swift rebound in Asian scrap prices following the Lunar New Year holidays in the region.
Rebounding ferrous scrap prices in Asia have caused Taiwanese importers of containerized ferrous scrap to source material even with the start of the Lunar New Year holiday period in the territory.
Jindal Stainless (Hisar) Limited announces Financial Results for the Quarter ended December 31, 2020
Posted On: 2021-02-08 05:19:40 (Time Zone: Arizona, USA)
Jindal Stainless (Hisar) Limited (JSHL) today approved its Q3FY21 financial results. The quarter witnessed a steady economic recovery that led to higher stainless steel demand. JSHL s sales volume stood at 191,272 tonnes, registering an increase of 22% over the corresponding period last year (CPLY). Profit After Tax (PAT) and EBITDA of the company stood at INR 190 crores and INR 351 crores, respectively. Consistent focus on deleveraging helped bring down the finance cost by 23% over CPLY.
A quick normalisation in supply chain post the peak-COVID period, uptick in demand from rural and urban centres, and renewed efforts by the industry helped in reviving the stainless steel demand in a short span. During Q3FY21, strong demand was registered in the auto, pipe & tube, metro rail, and railway wagon segments. Moreover, sale