Sustained Chinese steel exports pressuring global prices
Chinese steel exports surged 9% YTD to 88mt, leading to global price weakness and prompting safeguard duties. Despite duties, imports from China rose 46% QoQ.
JINDALSTEL / Q2-FY26 / risks
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JINDAL STEEL · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Soft domestic steel prices in Q3
Domestic steel prices are currently 2-3% lower than Q2, and management noted it is too early to predict Q3 recovery.
Rising coking coal costs in Q3
Management guided for coking coal cost increase of $3-5/ton sequentially in Q3, which could pressure margins.
Australian subsidiary losses and asset impairment
The Australian subsidiary has accumulated losses of ~INR 10,700 crore, with assets written down to $187 million. Management confirmed no meaningful operations, raising concerns about future recoverability.