Metal Stocks Outlook for the week – 26 to 30.09.2016

   Metal Stocks Outlook for the week – 26 to 30.09.2016

 Likely to continue rising next week  


Click Here  & Register To Get 2 days Trial Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753

 The rise in stocks of major metal and mining companies is likely to sustain in the coming week as impact of government measures to limit imports into India is helping domestic companies. The index has risen 53% since September 2015. Market participants would be eyeing any development related to imposition of anti-dumping duty on certain steel products. Earlier this week Steel Secretary Aruna Sharma had said that the government would further prune the list of steel products under minimum import price and levy anti-dumping duty on them instead. The anti-dumping duty is likely to be levied in the next one or two weeks.   The  government  had  imposed  minimum  import  price  on  173  steel  products  in  February  for  six months.  On  Aug  4,  the  government  removed  minimum  import  price  for  107  specific  items,  and simultaneously  imposed  anti-dumping  duty  on  broader  categories  of  hot-rolled  and  cold-rolled products.  A  dampener  for  metal  stocks  could  be  the  sharp  rise  in  prices  of  coking  coal  that  can reduce competitiveness of the steelmakers.   Prices of coking coal, a crucial raw material used in the production of steel, has shot up to $200 per tn, a nearly 80% rise over the last month. India imports most of its coking coal requirement. Vedanta is the top pick in the metals and mining space.

Free Intraday Tips : Join Our Whatsapp No : 9841986753