Indian metal index hits record high, set for best week in 4 months

Steel Authority of India

02/01/2026 09:48

** Indian metal index .NIFTYMET jumps 1.5% to hit record high

** The index is on track for its best week since September, up about 5.7% this week, driven by soaring metal prices on stronger demand prospects and a weaker U.S. dollar MET/L

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

** Aluminium scaled above $3,000 per ton for the first time since May 2022 on the London Metal Exchange

** Copper up on the day after hitting all-time high earlier this week

** NALCO NALU.NS shares up 4.4%; Hindalco HALC.NS rises 3.1%

** Hindustan Copper HCPR.NS gains 3.7%; Hindustan Zinc HZNC.NS up 2.9%

** Vedanta VDAN.NS and Jindal Steel JINT.NS up 2.3% and 1.2% respectively

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))