Tata Steel, JSW Steel, Jindal Steel and Power, Steel Authority of India share prices have declined 5-12% during last one week .
While the market sentients remain weak, the correction in share prices also has been led by a regular decline in steel prices.
Channel Checks by various Brokerages suggest Steel prices in the country have dipped to multi- month lows
BNP Paribas Channel checks suggest that the domestic hot rolled coil (HRC) prices that have been falling since September 2023, reached ₹52,700 a tonne during the week ending March 6, 2024, down ₹900 a tonne week over week. The weekly average price also had dropped to its lowest point since December'2023.
