Brexit gave an unexpected short-term benefit, as the pound depreciated, making its UK steel operations more competitive. The improvement in global steel prices has provided support in varying degrees across Tata Steel’s markets. If the European Union’s efforts to get China to limit its steel exports succeed, Tata Steel stands to benefit. In India, the worry is growing steel output as all major steel companies’ production comes on stream. Even then, Tata Steel is up by 26% from its level six months ago.

Source: Mint September 12, 2016 18:33 UTC