Steel makers eye sharp March quarter profit jump as demand and pricing rise

A fresh protectionist move could lift margins fast

Steelmakers are expected to post a major profit surge in the March quarter, backed by seasonal demand and a new protectionist measure. Analysts forecast higher steel prices and stronger volumes will offset rising coking coal costs. SAIL is projected to see the steepest profit growth, while improving India’s trade balance and steady domestic demand strengthen the sector’s outlook.