Home SMARTPHONE Tata Steel in a sweet spot amid rising iron ore prices

Tata Steel in a sweet spot amid rising iron ore prices

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Tata Steel in a sweet spot amid rising iron ore prices

Sector experts believe there is still some room left since the domestic prices are at a 5% discount to the imported prices.

Synopsis

Crude steel production in November grew by 6.6% year-on-year driven by 8% growth in China and 5.5% increase in Europe. This has increased the lead time or delivery time for finished steel creating shortage of the alloy.

ET Intelligence Group: Steel prices in China and the US are at a 12-year high while in most other markets including India, they have touched an eight-year high. While this should benefit the steel makers, a sharp jump in prices of iron ore, a major raw material, may spoil the party. Under such conditions, steel companies with captive iron ore mines stand to gain the most. Among listed steel companies on Indian bourses, Tata Steel looks better

BY

ET Bureau

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