{"id":49248,"date":"2022-06-20T16:55:00","date_gmt":"2022-06-20T11:25:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=49248"},"modified":"2022-06-20T16:52:55","modified_gmt":"2022-06-20T11:22:55","slug":"metal-stocks-continue-to-melt-why-are-metal-stocks-falling","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/metal-stocks-continue-to-melt-why-are-metal-stocks-falling\/","title":{"rendered":"Metal stocks continue to melt; Why are Metal Stocks Falling?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2284898179\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Indian equity benchmarks opened on a positive note and the Nifty reclaimed 15300 points on Monday\u2019s early trades. However, losses in the metal and oil &amp; gas sectors offset gains.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1278691066\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The tide has turned for metal stocks. Metal stocks in general are melting sharply after a massive outperformance last year. Nifty Metal plunged 4.53% on Monday\u2019s intraday trades. The government waived customs duty on the import of some raw materials used by the steel industry. However, the index has been on a downturn since the government increased export duty from nil to 15% in May, this year.&nbsp;<\/p><p>&#8220;We see this as an extremely negative development for the steel sector and expect broad-based multiple de-rating. We downgrade steel\/stainless equities under our coverage to either hold\/reduce\/sell, &#8221; ICICI Securities said. Accordingly, it has reduced the ratings of metal stocks.<\/p><p>Metal stocks like JSW Steel, Tata Steel, Steel Authority of India Limited and Vedanta Limited continue to reel under pressure as global growth is projected to slow down from an estimated 6.1% in 2021 to 3.6% in 2022. Analysts say that increased risks of a global slowdown, persistently higher inflation and the aggressive stance of the US Fed have triggered the fear of recession. These factors are weighing down the markets including commodities across the globe.<\/p><div class=\"trade-content_5\" id=\"trade-912749088\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Further, they believe that the reimposition of a lockdown in China could be a reason why metal stocks are suffering since China contributes to a major chunk of demand in the sector. The lockdown might cause a delay in boosting global commodity prices.<\/p><p>Vedanta Limited was one of the top losers and its shares nose-dived 12.67% on Monday\u2019s intraday trades after it put its Tuticorin copper plant in Tamil Nadu for sale. This plant accounts for 40% of India&#8217;s copper output and employs about 30,000 people directly or indirectly.<\/p><p>Steel Authority of India Limited tumbled 6.14% on Monday. It is currently trading at \u20b964.10 apiece. On June 17, 2022, ICICI Securities gave a \u2018reduce\u2019 call on the shares with a target price of \u20b9 61.<\/p><p>JSW Steel\u2019s shares slipped 2.05% to \u20b9543.25 apiece. On June 17, 2022, ICICI Securities gave a \u2018reduce\u2019 call on the shares with a target price of \u20b9 448. The time period given by the analyst was one year.<\/p><p>Tata Steel\u2019s shares plunged 5.71% to \u20b9 854.90 apiece on Monday. ICICI Securities gave a \u2018reduce\u2019 call on the shares with a target price of \u20b9 827. The time period given by the analyst is one year when its share price can reach the defined target.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By &#8211; Simran Bafna<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-2927377643\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-1619599791\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Indian equity benchmarks opened on a positive note and the Nifty reclaimed 15300 points on Monday\u2019s early trades. However, losses in the metal and oil &amp; gas sectors offset gains.&nbsp; The tide has turned for metal stocks. Metal stocks in general are melting sharply after a massive outperformance last year. Nifty Metal plunged 4.53% on [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[4155,4154,948,936,2597,2599,4153,4152],"class_list":["post-49248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-metal-sector","tag-metal-stocks","tag-stock-market","tag-stock-market-news","tag-stocks-to-watch","tag-stocks-to-watch-in-2022","tag-why-metal-stocks-are-falling","tag-why-metal-stocks-are-falling-today-in-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Metal stocks continue to melt; Why are Metal Stocks Falling? - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/metal-stocks-continue-to-melt-why-are-metal-stocks-falling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metal stocks continue to melt; Why are Metal Stocks Falling?\" \/>\n<meta property=\"og:description\" content=\"Indian equity benchmarks opened on a positive note and the Nifty reclaimed 15300 points on Monday\u2019s early trades. However, losses in the metal and oil &amp; gas sectors offset gains.&nbsp; The tide has turned for metal stocks. Metal stocks in general are melting sharply after a massive outperformance last year. 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