Shares of domestic steelmakers and other metals companies rallied as analysts expect prices to rise and earnings to improve.

Briefly noted: What moves the steel world today?

“Our channel checks with traders suggest that they expect another steel price hike of 2,500-4,000 rupees per ton for various product categories in January,” PhillipCapital said in a note. The brokerage attributed the expected price increase to tight supply conditions.

Source: BloombergQuint

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