In Q1 FY26 primary long steel prices commanded an 8% premium to HRC and hit a high of Rs 57,200 a tonne.
(Source: pxhere.com)
Of the four listed tier-I ferrous mills we cover, Anand Rathi anticipates Jindal Steel and Power Ltd. outdoing the sector, with Rs 13,214 Ebitda/tonne and sector-leading ~20.6% Ebitda margins. However, Jindal Stainless Ltd.’s Ebitda is expected to have improved the most QoQ (30%) to Rs 11,066/tonne.