Metal Stocks Outlook for the week – 07 to 11.09.2015
Some
bounce back is expected in shares of major metal and mining companies in the
next four-five sessions, despite a weak outlook for the sector in the long
term. Some recovery would continue as stocks in the sector have already reached
the oversold zone. CNX metal index is seen in a range, with some bounce back
next week.
Concerns
over economic slowdown in China--the largest producer and consumer of
metals--have
continued
to weigh on the metal sector. Weakness in global steel demand, oversupply of
key raw
materials
such as iron ore and coking coal are likely to keep global steel prices under
pressure.