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Jindal Stainless announces that the government's antidumping investigation has been delayed due to uncertainty over US tariffs

India's Jindal Steel said that the launch by the government of an antidumping investigation into cheap stainless imports was delayed because of trade uncertainty resulting from new U.S. duties on Indian goods.

Abhyuday Jindal, Managing Director of the company, said that the Indian Stainless Steel Development Association – a domestic trade organization of which it is a part – filed a complaint with the Federal Trade Ministry's Directorate General of Trade Remedies in late July.

India will be subject to a 25% duty on all shipments it makes to the U.S. starting Friday. President Donald Trump warned that additional charges "very substantial" would be imposed because New Delhi imports Russian oil.

Jindal stated that the DGTR would likely need two to three months more to begin the investigation.

Indian mills are struggling with the increased imports of stainless steel cheaper from countries such as China and Vietnam.

The demand for finished products - used by the automotive industry, home appliance manufacturers, and industrial sectors - was strong during the quarter of April-June, thanks to strong manufacturing and government spending.

Jindal Stainless announced an 11% increase in its first-quarter profits to 7,15 billion rupees ($82 million) earlier that day.

The country's total revenue increased 8.2%, to 102.07 trillion rupees.

(source: Reuters)