JSW Steel, JSPL to profit from weak forecast on iron ore prices

Leading non-integrated steel players like Jindal Steel & Power Ltd (JSPL) and JSW Steel Ltd are set to profit from the muted hike in domestic iron ore prices.

The subdued iron ore prices would also benefit Tata Steel as Bhushan Steel (a company Tata Steel took over in insolvency resolution) sources ore from Odisha, a report by Edelweiss Research said.
 

There has been a marked dichotomy in international and domestic prices of iron ore, driven by surge in production by Odisha's merchant miners and lukewarm pellet prices as China's steel makers have shown appetite for lower grade ore.

“Going ahead,