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Global steel demand needs revival for domestic prices to rise
Mint Mumbai
|September 06, 2023
Shares of key Indian steel companies such as Tata Steel Ltd, Jindal Steel & Power Ltd, and Steel Authority of India Ltd have scaled new 52-week highs in September, rising by 5-15% in the past one week.
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The optimism seems to be stemming from the recent policy measures by China, a key market for metals. The new stimulus measures include a cut in interest rates on existing mortgages and reduction in down payment requirement for first- and second-time home buyers. But this may not move the needle significantly for near-term global steel demand as it may take a while for the Chinese policy measures to show results.
Cette histoire est tirée de l'édition September 06, 2023 de Mint Mumbai.
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