Homemarket Newsstocks News

    Metal stocks surge in trade today; JPMorgan, Nomura bullish on steel, here's why

    market | IST

    Metal stocks surge in trade today; JPMorgan, Nomura bullish on steel, here's why

    Mini

    JPMorgan and Nomura are bullish on steel stocks from metal space. With the current disruption and without the ramp up in the Chinese exports, JPMorgan expects the steel prices to go up which will benefit the Indian exports as well.

    The entire metal index is buzzing and so are steel stocks. One of the key reasons is that both Ukraine and Russia, put together, contribute nearly 15-16 percent of the global steel exports. On back of the Russia-Ukraine conflict, there is going to be a price disruption according to most of the brokerages.
    Also Read:
    JPMorgan and Nomura are bullish on steel stocks from metal space. With the current disruption and without the ramp up in the Chinese exports, JPMorgan expects the steel prices to go up which will benefit the Indian exports as well. JPMorgan expects the India exports to go up as well as domestic prices to be firm which will lead to margin expansion for Indian steel mills.
    Nomura believes that this disruption will mean a potential export benefit or opportunity for the Indian steel companies. Nomura expects the domestic prices and international prices to firm up further. However, Nomura believes that it will be very difficult for the steel companies to maintain the spreads largely because the coking coal prices have gone up.
    Catch all stock market updates here
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng