India's metal index falls as global volatility weighs on tariff support

HindalCo Industries

10/06/2026 05:31

** India's metal sub-index .NIFTYMET falls 1.1% vs Nifty 50's 0.5% rise  
** Copper fell as Middle East tensions and macro worries outweighed support from expected U.S. tariffs
** Price support continued to come from expectations of a decision on U.S. copper tariffs, likely in the second half of the year with a possible 15% levy on copper imports from the start of 2027
      ** Inflation concerns also remained front of mind, with markets looking to U.S. inflation data that's set to be released later on Wednesday
** Higher interest rates generally dampen the demand prospects for growth-dependent industrial metals
** Among other LME metals, aluminium and zinc dropped 1.54%, and 0.58%, respectively 
** Hindalco HALC.NS and Hindustan Zinc fall the most, down 3.3% and 3% respectively 
   ** Vedanta down 2.2% while Hindustan Copper falls 1.6%
   ** YTD, metal index up 12% vs Nifty 50's 10.6% rise 


 (Reporting by Urvi Dugar in Bengaluru)
 ((UrviManoj.Dugar@thomsonreuters.com;))