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.
Motilal Oswal Report
Operational data reported by Indian Steel companies indicate that volumes remained strong in Q4 FY21, growing 15% YoY/1% QoQ.
We believe that mix has risen in favour of exports due to strong realization. Exports rose 126% month-on-month in March 2021 to 1.3 million tonne (highest in the last eight months).
Indian mills have raised flat steel prices by Rs 3,500-4,000/tonne in April 2021, which has been absorbed by the market.
We believe further hikes are in store in the next few weeks as the Indian hot-rolled coil prices still trade at a discount of ~Rs 5000/tonne to import parity prices.
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