Steel Shares Rally After Government Extends Minimum Import Price on 66 Products
Indian steel and metal stocks advanced in afternoon trade after the government extended the minimum import price, or MIP, on 66 steel products, a move seen as supportive for domestic producers facing import competition. Shares of Hindalco, Jindal Steel, JSW Steel, Tata Steel and Hindustan Zinc rose more than 1% from the previous close as investors priced in a firmer pricing environment for local mills.
