Metal stocks took a heavy beating on Monday, tracking losses in Chinese iron ore prices. The Nifty Metal index fell as much as 2.95 per cent. SAIL BSE -6.32 %, NMDC BSE -6.31 %, and Hindustan Copper BSE -6.36 % were among the biggest losers on the index, down between 5.6 per cent and 7.1 per cent. Chinese iron ore fell by over 4 per cent to its lowest level since November as high inventory levels and a weak domestic steel market weighed on prices. Shanghai steel rebar contract also fell 2.5 per cent. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774Monday, 19 March 2018
Metal Stocks Plunge On Fall In Chinese Iron Ore Prices
Metal stocks took a heavy beating on Monday, tracking losses in Chinese iron ore prices. The Nifty Metal index fell as much as 2.95 per cent. SAIL BSE -6.32 %, NMDC BSE -6.31 %, and Hindustan Copper BSE -6.36 % were among the biggest losers on the index, down between 5.6 per cent and 7.1 per cent. Chinese iron ore fell by over 4 per cent to its lowest level since November as high inventory levels and a weak domestic steel market weighed on prices. Shanghai steel rebar contract also fell 2.5 per cent. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
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