India's metal stocks fall as Trump tariff on China drags base metals

Steel Authority of India

03/02/2025 06:23

** Metal stocks in India slide as much as 5%, tracking a
decline in most base metal prices
    ** Tata Steel  TISC.NS , Hindalco  HALC.NS , Vedanta
 VDAN.NS  down 2.2%, 2.1% and 3.8%, respectively
    ** Base metal prices fall as U.S. President Donald Trump's
10% tariff on imports from top metals consumer China fuel trade
war concerns 
    ** The dollar surges vs other currencies on trade war fears,
further weighing on base metal prices
    ** Nifty Metal  .NIFTYMET  index sheds over 2%, with Jindal
Steel  JNSP.NS , Steel Authority of India  SAIL.NS , National
Aluminium Co  NALU.NS , and Hindustan Zinc  HZNC.NS  down 3-5%
    ** .NIFTYMET down 6.2% so far in 2025, underperforming
benchmark Nifty 50 50  .NSEI  which is down 1.5%
    ** Metal index up 8.4% in 2024 vs 8.8% gains in benchmark
Nifty 50 index  .NSEI 

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com))