BSE Metal index down 1.6% as Commodity prices show further weakness
As per an economic survey, Chinese fixed-asset investment in infrastructure is estimated to grow at 12% next year against 20% in the first 10 months of 2017. China is stepping up efforts to reduce overcapacity in industry, which is feared to reduce demand for base metals going forward.
Metal stocks continued their decline from yesterday. Vedanta and Hindustan Zinc lost 2.8% each with Hindalco losing 2.9%. Steel stocks were less affected with JSW Steel, SAIL and Tata Steel down by 1.87%, 2.24% and 1.94% respectively.
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