Steel Exports post healthy growth - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Steel Exports post healthy growth

Aug 17, 1999

According to a report in the Economic Times, Indian steel companies have been aggressive exporters of hot rolled coils (HR Coils) to the European markets. This has become possible mainly due to the better demand supply scenario and the firming up of prices in international markets. The domestic steel markets have been reeling under the pressure of excess supply, due to domestic production and high imports. With Indian companies exporting to international markets, the situation in the domestic markets is likely to improve. This will lead to a firming up of the prices for steel products in the domestic markets.

However, it must be mentioned that India has currently imposed floor prices on the import of steel products. Once these import barriers are diluted, the domestic markets will witness an inflow of possibly a large amount of steel imports into the country. This could adversely affect the current firmness in domestic steel prices.

The increase in exports will also suffer if importing countries were to retaliate to India's trade barriers by imposing import restrictions. This could dampen the sentiment in domestic markets and adversely affect the recent firmness in prices.

Persistence in the high growth of steel exports will go a long way in lifting the fortunes of the Indian steel industry, which is beginning to recover after international majors resorted to large scale dumping into Indian markets. However, all is not rosy yet and this jump in exports must be cautiously viewed.

Equitymaster requests your view! Post a comment on "Steel Exports post healthy growth". Click here!


More Views on News

SAIL Share Price Up by 5%; BSE METAL Index Up 2.7% (Market Updates)

Apr 13, 2021 | Updated on Apr 13, 2021

SAIL share price is trading up by 5% and its current market price is Rs 89. The BSE METAL is up by 2.7%. The top gainers in the BSE METAL Index is SAIL (up 5.3%). The top losers is HINDUSTAN ZINC (down 0.3%).

More Views on News

Most Popular

My Recent Recommendation Will Profit from the Global Supply Chain Crisis (Profit Hunter)

Mar 31, 2021

A tiny chemical company, started in the Licence Raj era, is a great example of a new wealth creating opportunity.

My Stock Trading Strategy (Fast Profits Daily)

Mar 31, 2021

In this video I'll show you exactly how I go about picking stocks for trading.

4 Stocks to Make Your Portfolio Immune to the Second Covid Wave (Profit Hunter)

Apr 6, 2021

Rather than predicting the market, successful investing is more about preparing well and placing your bets accordingly.

If the Market Falls, I Will Do This... (Fast Profits Daily)

Apr 1, 2021

What should you do if the market falls? In this video, I'll tell you what I will do.

India: Recovery Stalled by Vaccine Games? (The Honest Truth)

Apr 13, 2021

Ajit Dayal on how India's vaccine strategy will impact the markets.


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Apr 13, 2021 03:17 PM