Improving realisations may help steelmakers forget Covid-19 memories

Topics Coronavirus | steelmakers | Lockdown

Steel stocks, which continued to gain from their March-April lows, have now regained levels last seen in February this year. Tata Steel, JSW Steel, and SAIL have rebounded 57-84 per cent, while Jindal Steel & Power (JSPL) has been a strong outperformer, gaining more than 200 per cent. The trigger has been provided by improving steel realisations, after the beating taken during the April-May period following the lockdown. Though the gradual start of economic activities helped, the larger impetus has been provided by the pick-up in Chinese steel demand and consumption, thereby pushing up t.....

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