March 5, 2025 8:18 PM

SAIL and Indian steel stocks surge as China announces plans to reduce output

Shares of Indian steel companies surged on Wednesday following China's announcement to restructure its steel industry and reduce total production. This move is anticipated to curb the dumping of cheap steel into the Indian market, providing a significant boost to domestic steelmakers. Steel Authority of India (SAIL) shares jumped 4.43% or Rs 4.77, closing at Rs 112.43 on the National Stock Exchange (NSE) during intra-day trading. Tata Steel, one of the largest players in the industry, saw its ...