News and Events

According to the report, India's largest stainless steel producer, Jindal Stainless Limited (JSL), plans to close its Indonesian cold rolled mill PT Jindal Stainless Indonesia (PTJSI), which is located in Surabaya, Indonesia. The company's board of directors approved exploring a proposal to sell/liquidate/divest its stake in PTJSI. This decision was made in the face of unfavorable market conditions in Indonesia. Due to trade protection measures on stainless steel products in major regions such as the US and the European Union, PTJSI was not able to survive with a capacity utilization rate of only 15%.