NIFTY 50

Here’s why ferrous stocks are buzzing in trade

Updated : December 02, 2020 04:49 PM IST

Stocks like SAIL, NMDC and NALCO are buzzing from the metals space. The steel companies have increased prices by around Rs 1,000 per tonne for the month of December.

Remember, if you look at the price hikes from a three month perspective, the increase been over Rs 5,000 per tonne. Most of the gain could flow to the profitability because coking coal cost as well has seen a sharp correction of close to 20-25 percent. Iron ore price is moving up as well.

While some of non-integrated players will get hurt but companies like Tata Steel, SAIL, and JSPL will benefit from the rising iron ore prices.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you