Big news for steel companies! Duration of anti-dumping duty increased on alloy/non-alloy colour coated flat products - Check stocks to invest

There is a big news for metal companies like JSW Steel Limited, Arcelor Mittal, Nippon Steel, Steel Authority of India Limited (SAIL) among others, said Anil Singhvi, Managing Editor at Zee Business on Thursday.  

The market expert informed that anti-dumping duty has been recommended by Directorate General of Trade Remedies (DGTR) on alloy/non-alloy steel colour coated flat products. Investigation was done on this after which the recommendation is being made, he said.

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As per the information, the Ministry of Finance has released a notification according to which the duration of anti-dumping duty on colour coated flat products, which are being imported from China and EU, have been increased to March 31, 2022.

Market Analyst Vikas Sethi speaking on the topic discussed about the stocks related to steel on which he is bullish. He said metal stocks has been his favourite, however, in the last few days, these stocks have shown a bit downfall because of international reasons but the demand for steel and steel prices have not come down.

#BreakingNews | JSW स्टील, आर्सेलर मित्तल निप्पॉन स्टील, SAIL के लिए बड़ी खबर

अलॉय/नॉन-अलॉय स्टील के कलर कोटेड फ्लैट
प्रोडक्ट्स पर ड्यूटी की अवधि बढ़ी,

चीन, EU से आने वाले कलर कोटेड फ्लैट
प्रोडक्ट्स पर ड्यूटी की अवधि बढ़ी@AnilSinghvi_ pic.twitter.com/ERnsy019FB

— Zee Business (@ZeeBusiness) September 30, 2021

The market analyst said that because of the China Evergrande episode it was expected that the demand in real estate will decrease, and because of which some corrections also came but this is the best time to acquire such stocks. 

He further added that he is very bullish on this quarters results of metal companies.

Talking about his favourite steel stocks, he said that shares of Tata Steel Limited should be bought. People can also invest in SAIL as there were news that the performance of the company is good and secondly the government has also indicated that its privatization can be done, he said.

Jindal Steel & Power Limited, JSW Steel and steel and metal companies related to mid-cap  and cash market can also be bought, he said. The analyst concluded by saying that it is a great opportunity to buy metal stocks at low levels.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)