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Local metal companies set to gain from surging China demand

Local metal companies set to gain from surging China demand
Local metal companies set to gain from surging China demand
The rising demand from China has also led to higher prices of steel, copper and aluminium, which have increased by 25 per cent, 30 per cent and 25 per cent respectively.

Synopsis

Historically, Chinese demand has shown cascading effect on Indian metal companies. After the bout of strong demand in 2009 from China, the Nifty Metal index had more than tripled to 4800 in March 2010 within a year.

ET Intelligence Group: China has turned into a major importer of steel, aluminium, copper and iron ore in the past three months through August. This was the first time in 11 years since the country’s infrastructure binge in 2009 after the financial crisis. If sustained, the trend may boost India’s metals and mining sector.Historically, Chinese demand has shown cascading effect on Indian metal companies. After the bout of strong demand in 2009
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