Indian metal index extends rally to record high as global prices soar

Steel Authority of India

29/12/2025 04:44

** Indian metal index extends rally by 1.4% to hit fresh record high

** The index has gained about 5% in eight sessions, tracking rise in global metal prices on firmer demand signals out of top consumer China and expectations of two additional U.S. rate cuts in 2026 MET/L

** Only one out of the 15 constituents trading in red

** Copper set a record $12,960 a ton earlier in the session on benchmark three month copper on the London Metal Exchange

** Hindustan Copper HCPR.NS gains as much as 15%, hitting its highest level in over 15 years

** All metals saw a year-end rally; rising 1% to 2%

** Steel Authority of India SAIL.NS up 4%

** Vedanta VDAN.NS and Jindal Steel JINT.NS up 2.4% and 2.25% respectively

** Rally garnered support from traders' bets on two-more interest rate cut by the U.S. Federal Reserve

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))