Tata Steel: Tata Steel’s share price rose over 5% on March 18 due to significant volumes and many major transactions, boosted by China’s impressive industrial output growth. Tata Steel stock was trading at Rs 148.6 as of 12.20 p.m., increased by 4.9 percent from the prior close.
Over two times as many Tata Steel shares were traded today as there was the prior month. In a series of noteworthy transactions, shares totaling 2.3 crore have been traded. In the past year, the share price has increased by almost 40%.
Following a 7% increase in China’s industrial output in January–February, other metal stocks also saw increases. That is higher than Bloomberg’s projected rise of 5.2%. The index for Nifty Metal increased by 0.3%.
According to figures released on Monday, China’s industrial output increased by 7% year over year in January-February, picking up speed from 6.8% growth in December. By a wide margin, this exceeded analyst predictions, who had predicted a 5% gain.
Preliminary government data obtained by Reuters on March 02 indicates that steel imports hit a six-year high.
high in the first ten months of the current fiscal year, driven by exports from China. Consequently, the sector expects import limitations. According to the data, India was a net importer of steel that had been completed. The country continued to be a global shining star with high demand from its automobile and construction sectors, which in turn drove up steel demands.
Tata Steel
Throughout the fiscal year’s first ten months, 1.75 million metric tons of completed steel were exported to India by China, the world’s largest steel producer. This is a six-year high and an 80% increase over the same period the previous year.
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In September, India imposed a five-year anti-dumping duty on certain types of Chinese steel. In this situation, a domestic government imposes restrictions on imports that it deems are priced below fair market value.
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