Rising Steel Demand Gets Indian Metals Hot under the Collar 

Global manufacturing activity has shown signs of recovery in recent months, raising hopes for metal companies worldwide.

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Rising Steel Demand Gets Indian Metals Hot under the Collar

Global manufacturing activity has shown signs of recovery in recent months, raising hopes for metal companies worldwide.

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In China and the US, factory activity expanded after contracting for multiple quarters, indicating stabilisation of economic conditions.

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The increased demand of the metal, especially the bearish one, means there is a high possibility that the metal prices will continue going up.

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Given these Gauges of factory activity, we can understand how the demand for metals from these two powerhouses may grow up.

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Encouraged by the macro signs, Jefferies raised its target price for Tata Steel by a sizable 20% to Rs 200 per share.

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The target for Hindalco was also raised 20% to Rs 700. Though a “Hold” rating was retained on JSW Steel, its target got a modest 3% boost to Rs 900.

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