Indian steel and metal shares advanced in early trade after the government extended the minimum import price regime on 66 steel products, a move seen as supportive for domestic producers facing pressure from cheaper overseas supply. Hindustan Zinc, Hindalco, Jindal Steel, JSW Steel and Tata Steel rose more than 1% from the previous close, as investors priced in a firmer near-term pricing environment for the sector.
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"Steel Stocks Extend Gains as Government Keeps Import Floor Price on 66 Products"
Indian steel and metal shares advanced in early trade after the government extended the minimum import price regime on 66 steel products, a move seen as supportive for domestic producers facing pressure from cheaper overseas supply. Hindustan Zinc, Hindalco, Jindal Steel, JSW Steel and Tata Steel rose more than 1% from the previous close, as investors priced in a firmer near-term pricing environment for the sector.
Steel Stocks Extend Gains as Government Keeps Import Floor Price on 66 Products
R
RDU Global Wire
Markets, IPOs & Wealth Desk
New Delhi, India Just now (06:52 AM IST)•5 min read
Indian steel and metal shares advanced in early trade after the government extended the minimum import price regime on 66 steel products, a move seen as supportive for domestic producers facing pressure from cheaper overseas supply. Hindustan Zinc, Hindalco, Jindal Steel, JSW Steel and Tata Steel rose more than 1% from the previous close, as investors priced in a firmer near-term pricing environment for the sector.
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