India's metal stocks soar as US-China reach deal to slash tariffs

Steel Authority of India

12/05/2025 09:18

** Metal stocks .NIFTYMET soar 5.5% and hit one-month high, as base metals rise after U.S.-China deal

** Base metals prices rise as the world's top two economies agree to slash reciprocal tariffs, easing global recession fears MET/L

** U.S. and China said on Monday they have agreed to a 90-day pause on tariffs; reciprocal duties to drop sharply

** Hindalco HALC.NS, JSW Steel JSTL.NS and Tata Steel TISC.NS add 3.4%, 4.9% and 5.6%, respectively

** Hindustan Copper HCPR.NS and Vedanta VDAN.NS surge 8% and 6.5%, respectively

** YTD, NIFTYMET, up 2.8%, underperforms Nifty 50 .NSEI, which is up 5%

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com))