SP Tulsian, sptulsian.com shares his view on metal space.
Tulsian told CNBC-TV18, "I don't think there is any reason specially non-ferrous metal stocks to fall because if you see the weak rupee because the domestic prices are translated based on the import parity prices and that have been giving an advantage to all the domestic manufacture whether Hindustan Zinc , Hindalco or maybe Sterlite Industries , the only concern remains on China front that the demand is tapering off that can keep the prices subdued but if you see for copper and aluminium when you hear the international commodity experts it feels that the prices have bottomed out, you don't see further fall from hereon because in case of aluminium the prices having gone below the cost price to the international producers and all sort of things."
He further added, "Maybe things are likely to remain mild positive to better for non-ferrous but for ferrous metals things are dicey because one cannot take a call because China can play a spoilsport because the kind of capacity they have, the kind of dumping and all sort of things so the two extreme view needs to be taken for both metal space dividing them into two spaces.
