# Jefferies: China's falling steel production and exports will likely lift margins of the Indian players.

*fintech · news · 2026-04-27 · The Economic Times*

## Key points

- Chinese steel exports declined 9% year-on-year in Q1 2026, supporting Indian steel margins.
- India implemented a 12% steel safeguard duty in December 2025, boosting domestic prices by 20%.
- Jefferies projects JSW Steel and Tata Steel FY27 EPS to be 5-28% above consensus.
- Goldman Sachs forecasts Indian steel consumption to grow at 6.8% CAGR through FY32.

**Companies:** JSW Steel, Tata Steel, Jindal Stainless, Shyam Metallics & Energy
**Countries:** India, China

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/tata-steel-jsw-steel-or-jindal-stainless-jefferies-goldman-sachs-bullish-on-these-steel-stocks/articleshow/130549140.cms)

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