Metal stocks slump as US-China trade woes resurface

Reuters December 5 | Updated on December 05, 2018

Shares of metal companies Tata Steel Ltd, Vedanta Ltd, Steel Authority of India Ltd, Hindalco Industries Ltd and Jindal Steel and Power Ltd fell between 3.4 per cent and 6.5 per cent.

Industrial metals on the London Metal Exchange slipped on Wednesday as Washington-Beijing trade tensions resurfaced, raising concerns over demand in the world's top metals consumer China.

Jindal Steel and Power stock hit its lowest level since October 5, 2017. Nifty Metal index fell as much as 3.5 per cent in its sharpest intraday fall since October 11. Hindalco Industries, which marks its biggest daily fall in over two weeks, is the top percentage loser on the weaker NSE index.

Published on December 05, 2018

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