Domestic Flat Steel Price

Nomura has set a target price of Rs 1,220 and Rs 1,080 for JSW Steel and JSPL, respectively.

On the bourses, Tata Steel shares closed 0.38 per cent lower at Rs 130. In comparison, BSE Sensex settled 0.43 per cent lower at 76,190.46 levels, on Friday, January 24, 2025

JSW Steel is expected to face a challenging Q3FY25, with analysts forecasting weaker earnings due to softer steel prices and subdued demand

As of April 12, HRC steel prices were $300/tonne higher. India has already exceeded its EU quota by 40,000 tonnes this year but hopes steel will be allowed given coil shortage in Europe

The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces

Chinese hot-rolled coil prices have corrected by Rs 1,000/tonne to Rs 39,000

The growth in China's steel consumption sequentially eased in the July-September period due to weakened demand from the auto sector