Despite encouraging signs, steel makers not out of the woods yet

Anti-dumping duty on Galvalume steel is positive but more is required to boost the sector ailing under low demand and realisation

Stocks of domestic steel companies such as Tata Steel, JSW Steel, Steel Authority of India (SAIL) and Jindal Steel and Power (JSPL) have surged 24-134 per cent from lows seen in early April. While resumption of economic activities in the country post easing of lockdown has improved sentiment, the rebound in Chinese demand too is encouraging. Likewise, the recent news flow on government's support measures also bode well. This includes the imposition of anti-dumping duty on flat-rolled steel products, plated or coated with aluminium and zinc, also referred to as Galvalume steel. It is also expected that the government will