Metal Stocks Outlook for the week – 22 to 26.06.2015
(Downward
Correction is seen in the sectors)
( www.rupeedesk.in )
Sectors
of major metal companies are likely to trade negatively next week as downward
correction is seen in the sector. Downward correction is seen in the metals and
mining sector next week. Short term outlook continues to remain negative. Negative
trend is likely to continue among shares of steel companies next week despite
the muchawaited
hike
in the import duty on certain flat and long steel products
.
The
government on Wednesday raised import duty on select flat and long steel
products to 10% and 7.5% respectively, in a move aimed at saving the domestic
steel industry reeling under cheaper imports from countries like China.
The
Street would be eyeing Tata Steel Ltd's stocks on the rumour that trade unions
in UK may suspend the one-day strike schedules on Monday against the company's
subsidiary Tata Steel UK Ltd. Four trade unions in UK had announced going on
strike against the steel- maker's subsidiary as they were against the company
closing a pension scheme.
