Metal Stocks Outlook for the outlook – 04 to 08.01.2016
(Seen trading with a positive bias
next week)
( www.rupeedesk.in )
Stocks
of major metal producers and mining companies are seen trading
with
a positive bias in the week ahead. Some buying momentum is seen
as
metal stocks have already hit very low levels in the last few months.
According to implementation of various government policies in the next
two
months would play a crucial role. If it (government) accepts the
industry's
demand to impose minimum hot rolled coils import price of
$450/tn,
there remains a chance of a hike in steel prices up to 2,000
rupees/tn,
providing some relief to the industry. Moreover, China export
prices
too have inched up a bit, which makes domestic prices competitive
to
imports.