BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Tata Steel Company Ltd. is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum.
Over the last few days, Indian steel prices have witnessed a softening trend. Domestic hot rolled coil prices have declined from Rs 67500/tonne as on November 30, 2021 to Rs 65500/tonne on December 09, 2021. Along with steel prices, prices of key inputs such as coking coal have also witnessed a falling trend.
China recently cut its reserve requirement ratio by 50 basis points to boost its economic growth. This cut in reserve requirement ratio for major commercial banks will be effective from December 15, 2021. This step to cut the ratio augurs well for Chinese steel demand, in general.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.