Ferrous pack is better placed than non-ferrous pack, given the economic slowdown in the developed world and lower manufacturing activity in China.
Near-term triggers are China’s macro data and Europe’s energy crisis
Metals likely to soften as higher prices will lead to lower volumes and lack of demand from user industry
The anti-dumping duty introduced by India on steel is not unusual issue for China and it may not necessarily stop China from continuing to export feels Hongmei Li, Senior Editor- Metal & Steel News at S&P Global Platts.
Emkay Global Financial Services has come out with its report on metals sector. The research firm believes that, uncertainty and concerns over global macroeconomic health would keep metals prices volatile.
Emkay Global Financial Services has come out with its report on metals sector. According to the research firm, price of steel across the geographies continued to fall during the last fortnight (ending 15th March) as restocking slows and also on renewed concerns of weak demand.
Emkay Global Financial Services has come out with its report on metals sector. According to the research firm, base metals prices are expected to remain volatile.
ICRA expects the near term demand outlook for non ferrous metals to remain soft, due to the prevailing sluggish macro-economic conditions globally.
Shares in Hindalco Industries fall 3.2 percent to Rs 121 after Citigroup downgraded the non-ferrous metals producer to 'sell' from 'buy' and cut its target price to 118 rupees from Rs 164.
Dani Commodities has come out with its report on MCX Gold, Silver, Copper, Lead, Zinc, Aluminium, Nickel, Crude Oil and Natural Gas. According to the research firm, one can buy MCX Gold above Rs 30170 with a stop loss of Rs 30110 for target of Rs 30230.
Nirmal Bang has come out with its report on non- ferrous metals. The research firm has a buy rating on Hindustan Zinc as the stock will become more like a bond because of strong cash generation. The research firm also remain relatively positive on zinc prices due to strong demand environment in China and supply concerns.
PN Vijay, Portfolio Manager, www.askpnvijay.com is not positive on non ferrous metals for the next 12 months.