Nomura Boosts India's Steel Outlook

  Published 9 months ago

Nomura is bullish on India's steel, citing domestic demand, China cuts, price support, and raising targets now.

  • China plans 9% year‑on‑year production cut in 2025, reducing cheap steel exports worldwide to markets.
  • Domestic demand, limited imports, and improving price dynamics are set to boost Indian steel producers.
  • Nomura lifts JSW target to ₹1,300, Jindal to ₹1,150; metals index up 16% YTD strong.

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