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BUZZ-India's metal stocks fall as Trump tariff on China drags base metals

Reuters·02/03/2025 06:23:57
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BUZZ-India's metal stocks fall as Trump tariff on China drags base metals

** Metal stocks in India slide as much as 5%, tracking a decline in most base metal prices

** Tata Steel TISC.NS, Hindalco HALC.NS, Vedanta VDAN.NS down 2.2%, 2.1% and 3.8%, respectively

** Base metal prices fall as U.S. President Donald Trump's 10% tariff on imports from top metals consumer China fuel trade war concerns

** The dollar surges vs other currencies on trade war fears, further weighing on base metal prices

** Nifty Metal .NIFTYMET index sheds over 2%, with Jindal Steel JNSP.NS, Steel Authority of India SAIL.NS, National Aluminium Co NALU.NS, and Hindustan Zinc HZNC.NS down 3-5%

** .NIFTYMET down 6.2% so far in 2025, underperforming benchmark Nifty 50 50 .NSEI which is down 1.5%

** Metal index up 8.4% in 2024 vs 8.8% gains in benchmark Nifty 50 index .NSEI


(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com))