See no recovery in metal space as long as China demand remains weak: Hemindra Hazari

In a chat with ET Now, market expert Hemindra Hazari shares his view on Tata Steel and the steel sector at large.

ET Now: Can we expect Tata Steel stock to take a breather or could it have a bit of rally because metals were active in the week gone by. What about the labour news? It was the biggest overhang on Tata Steel.

Hemindra Hazari: It is positive news. That said, I really do not see any major recovery in the metal space and that is because China has been flooding India also with a lot of cheap imports. That is the basic outlook for the metal industry. That is the reason why the government hiked in import duties on iron and steel. As long as China continues to be weak, I really do not see any revival in commodity or metal prices in the near future. The UK plant news is a reprieve for Tata Steel, which it required badly. In that way it is positive news for Tata Steel.