InvestorQ : Why did metal stocks rally so sharply on 29 July?
Rashi Mehra made post

Why did metal stocks rally so sharply on 29 July?

Answer
image
Archita Jajjoo answered.
5 months ago
Follow

On 29 July, the metal index rallied 5% with metals dominating the gainers list. Bloomberg projected India’s steel consumption to set records in 2021 as steel demand is expected to surge 17% to 110 MTPA in FY22. Metals demand has been triggered by rising power consumption, higher mining and higher sales of tractors and passenger vehicles. Global metals prices have also been on a LME rally.

6 Views