Metals Stocks Outlook For The Week - 26 to 30.11.2018
Stocks of metal and mining companies may extend losses next week if concern over global economic slowdown continues. The overall sentiment is likely to remain cautious after losses during the week. For some steel producers, the shortage of iron ore could be a problem as it increases their raw material costs. NMDC had shut its Donimalai iron ore mine on Nov 2, after the Karnataka government asked the company to pay 80% premium as royalty against the current 15% to renew the mining licence. While the company is confident of resuming operations at the mine soon
Source : Cogencis Information Services Ltd.
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Stocks of metal and mining companies may extend losses next week if concern over global economic slowdown continues. The overall sentiment is likely to remain cautious after losses during the week. For some steel producers, the shortage of iron ore could be a problem as it increases their raw material costs. NMDC had shut its Donimalai iron ore mine on Nov 2, after the Karnataka government asked the company to pay 80% premium as royalty against the current 15% to renew the mining licence. While the company is confident of resuming operations at the mine soon
Source : Cogencis Information Services Ltd.
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