Metal
Stocks Outlook for the week – 08 to 12.12.2014
( www.rupeedesk.in )
Stocks of metal
companies are expected to trade with a negative bias next week as prices
slumped of most of
the relevant commodities. Steel prices globally have fallen 1-4% between
Nov 17 and Dec 1.
Steel prices to
remain weak globally though, we do not expect any significant fall from hereon.
With NMDC too cutting
prices for December, the outlook on ferrous products does not look
positive. In
addition, non-ferrous metal prices also fell during the fortnight ending Dec 1.
Sustained strength in
USD index and recent sharp fall in crude oil prices may maintain pressure
on base metals
prices. Since a few months CNX Metals has been exhibiting weakness and we have not seen any
reversal sign. The CNX Metal Index fell 1.06% over the last seven days.
