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Steel prices unusually strong; bullish on Tata Steel, SAIL: Edelweiss

Updated : November 27, 2020 14:42:13 IST

“The demand uptick in steel has taken everyone by surprise,” Amit Dixit, Research Analyst at Edelweiss Institutional Equities said in an interview to CNBC-TV18.

According to him, steel prices are seeing unseasonal strength, and Q3 earnings are going to be a blockbuster for steel companies.

“The hot-rolled coil (HRC) is already at Rs 46,500 per tonne on an average and I won’t be surprised if it hits a new high,” said Dixit.

Edelweiss Institutional Equities likes Tata Steel and SAIL in the steel sector.

For entire interview, watch video
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