What's driving the rally in steel stocks?

Tata Steel, JSW Steel, JSPL, SAIL and other steel stocks gained up to 6% in intraday trade on Wednesday. The gains in shares of Tata Steel, JSW Steel, JSPL, and SAIL were driven by four key factors. One of the main reasons is the expectation that China will rationalise its steel production. Additionally, steel prices have likely bottomed out, and lower input costs continue to support profitability. The weakening of the dollar also remains supportive of exports, which, according to experts, are already on the rise.