14-Oct-2026 08:10:18
SALSTEELExpansion
HSBC ON STEEL
• India’s National Steel Policy 2047 demand CAGR forecast of 5.2% may be conservative, implying major capacity additions. • Capital, coking coal, scrap and logistics remain key constraints. • Large capex requirements increase the likelihood of continued import protection in some form. • HSBC remains positive on Indian steel producers.
S.A.L. STEEL LTD.