After China announced its plans to restructure its steel industry to cut its total output, there was a surge in the share of steel stock on March 5. The latest plans by China are expected to reduce cheap steel dumping into the Indian market, acting as a major positive to the domestic steel companies.
Welspun Corp’s shares jumped over 4% to trade at Rs 739 per share, according to Money Control. The stock is above its 52-week low of Rs 440, recorded in June last year. However, it has declined significantly from its 52-week high of Rs 835, reached in January this year.
Jindal Stainless Steel shares jumped nearly 4 percent to trade at Rs 615.45 per piece. The stocks observed a strong rise from its 52-week low of Rs 568.05 apiece since February 2025. APL Apollo Tubes shares also jumped over 3 percent, while those of Steel Authority of India (SAIL) and Jindal Steel were up over 2 percent. JSW Steel shares also gained over 2 percent to trade at Rs 996.95 apiece. The Nifty Metal Index surged nearly 3% to 8,589.20, driven by a strong rise in steel stocks. Tata Steel’s share price increase was the biggest contributor to the rally.
Indian steel producers have consistently called on the central government to establish an anti-dumping policy to shield the industry from the surge of inexpensive steel imports, notably from China. In February, TV Narendran, CEO and Managing Director of Tata Steel, mentioned that the government is taking account of the worries of local steel manufacturers about the availability of cheaper steel products while anticipating some progess.
The Indian Steel Association (ISA) has submitted an application to the Directorate General of Trade Remedies (DGTR), which is currently under review. The surge in steel stocks coincides with a broader market recovery. Stocks rebounded into positive territory, pausing after weeks of continuous selloff.