India’s steelmakers forge ahead in metal index boom
Steel prices have soared on the back of reviving demand, especially in China
24 December 2020 - 10:05
Mumbai — India’s steelmakers are on course to leading the country’s metal index to its biggest quarterly gain in more than a decade, as consumption recovers and prices surge globally.
The S&P BSE Metal Index has surged by about a third so far in the three months through December, jumping the most since the quarter ended June 2009. Metal companies are in an earnings upcycle after two years of downgrades, and steel demand and pricing has improved sharply, according to a Jefferies Group report in December...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.