INSUBCONTINENT EXCLUSIVE:
KOLKATA/MUMBAI: The US decision to impose a tariff of 25 per cent on steel and 10 per cent on aluminium imports from Canada, Mexico and the
EU, revoking the temporary exemption, is likely to impact metal stocks like JSW Steel, JSPL, Tata Steel, Hindalco which have exposure to
steel is more vulnerable than aluminium as concerns persist on around 18 million tonne (mt) of imports by the US (almost the entire
Research analyst Amit A Dixit said in the report
While JSW Steel and JSPL, for which exports comprise almost 20 per cent of sales volume, might see pressure on pricing and volume, Tata
Steel might also see pressure in its European operations to the extent of US exports, he added.
Among aluminium companies, Edelweiss said it
believes Hindalco would be able to pass on the price hikes, while Vedanta should also be able to maintain its export sales given that the
Prime Minister Mark Rutte and Prime Minister Narendra Modi in Delhi in a bid to protect mutual interest.
