Metal Stocks Slump Amid Rising Trade War Tensions
NSE Nifty Metal Index fell 3.29 percent in early trade to 3,442.75, its lowest in six months.
China, as a retaliation to U.S. President Donald Trump’s tariff plans, announced for reciprocal tariffs on $3 billion of imports from the U.S. Such imports include U.S. pork, recycled aluminium, steel pipes, fruits and wine. This is a response to Trump’s tariffs of at least $50 billion in Chinese imports to compensate for alleged intellectual property abuses by China.
The top loser among Indian scrips include National Aluminium Company Ltd. which fell 5.6 percent while Steel Authority of India Ltd. fell 5.36 percent in intra-day trading today. – Neal Bhai Report
