# Metal stocks rose over 1 per cent on April 28, outperforming benchmark indices.

*business · news · 2026-04-28 · Outlook Money*

## Key points

- Goldman Sachs predicts India's steel consumption will nearly double to 212 million tonnes by FY32.
- India is now the only major country both producing and consuming significant amounts of iron ore.
- Goldman Sachs has initiated coverage on India's ferrous metals sector due to a structural demand shift.
- JSW Steel and Shyam Metalics are Goldman Sachs' top metal stock picks with 'buy' ratings and targets.
- Goldman Sachs maintains a 'sell' rating on NDMC due to volume growth concerns and increased competition.

**Companies:** Goldman Sachs, Tata Steel, JSW Steel, Jindal Steel, Shyam Metalics
**Countries:** India, China, United States

[Read the full story on Outlook Money](https://www.outlookmoney.com/invest/goldman-sachs-sees-india-as-steel-growth-driver-demand-to-double-by-fy32-metal-stocks-rise-over-1)

---

Canonical: https://newsio.io/n/f770834d-e571-481f-9546-6419ea26e860/metal-stocks-rose-over-1-per-cent-on-april-28-outperforming-benchmark-indices-go
Summarized by Newsio from Outlook Money. https://newsio.io/how-it-works