Once again, the graphite electrode stocks are back in the limelight like las year this time. HEG and Graphite India went on with their upwards journey today too. HEG hit a new 52-week high today at Rs.2189.70, its 20% UC and Graphite also rose to hit a new high at Rs.686.90.
The fortunes of this sector are directly linked with the steel industry, which is currently, globally booming.
That apart, with the Chinese economy on the uptick, steel industry trajectory ahead looking good and with excess inventory of graphite electrodes getting fully liquidated, most analysts are optimistic about the graphite electrode sector.
The expectation is that prices of electrodes will start firming up from Q2.