JSL Ltd has announced that it has refused to enter into a long-term contract with global rail wagon-maker Bombardier for supplying high-grade alloy, citing volatility in nickel prices. Nickel, a vital input for making stainless steel, has fallen to USD 10,000 a tonne from the peak of USD 25,000 a tonne in 2008. Canada-based Bombardier, which has bagged an order from the Delhi Metro for constructing 424 rail coaches, has been in talks with JSL for high-grade stainless steel, to be used for the metro project.
