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Coking coal prices rise, China's low GDP growth to hit metal sector rally

The Nifty Metal index has dropped by 3.80% and 18.55% during the first two months of the current year due to concerns over an economic recession and weak earnings.

The rally in the Nifty Metal index in March was triggered by the expansion of manufacturing activity in China.


China’s modest economic growth outlook of 5% has been a dampener for the metal sector.

Coking coal prices have plunged over the last two weeks but have since surged due to strong demand in Asia and Europe.

The volatile nature of coking coal prices is a cause of concern for Indian steel makers.

Domestic demand for steel in India is robust, and steel mills are not facing any constraints.

Major steel producers have increased flat steel prices to pass on the rise in raw material prices to end consumers.

Coal India has achieved record production and dispatches, showing strong growth prospects.

Steel imports are expected to fall in the coming months as international prices are now at parity with domestic prices.

Click here to know more about what will dampen metal stock rally. 

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According to the brokerage, the domestic demand for steel in India is robust. The 4Q of the current fiscal year is the strongest quarter for steel demand.

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Coking coal prices rise, China's low GDP growth to hit metal sector rally

According to the brokerage, the domestic demand for steel in India is robust. The 4Q of the current fiscal year is the strongest quarter for steel demand.

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