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Metal Stocks Outlook for the week – 06 to 10.03.2017

Metal Stocks Outlook for the week – 06 to 10.03.2017


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Metal Stocks Outlook for the week – 06 to 10.03.2017
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The stocks of major mining and metal companies are likely to rise next week as underlying trend is
largely positive for such stocks. But as any major trigger for these stocks is unlikely next week the
upside may remain capped. In terms of fundamentals, although there is still volatility in prices of
both ferrous and non-ferrous metals, commodity prices have generally been on a rise, which is seen
lending support to metal and mining stocks. A major movement in prices of raw materials, coking coal for instance, can also have an impact on prices and affect metal companies' stocks. The government has been making the right noises as far as steel companies are concerned. There are reports that measures like compulsory procurement of domestic steel in government contracts may be introduced as one of the measures to push domestic consumption of locally made steel. Other measures being mulled include a scrapping policy for old automobiles, which will in turn help in setting up scrap-based steel units by providing adequate raw material. Any new developments on such policy measures may impact stocks in the sector, particularly those of steel companies.