All Metal Stocks Traded in Green on May 16 2024

Almost all metal stocks were seen in green today, extending gains for the fifth session in a row. Nifty Metal opened 0.5% higher at 9,423.

Nifty Metal Index Opened 0.5% Higher at 9,418.

Metal stocks rose despite fear of India becoming a dumping ground for Chinese products such as steel and aluminum, after the US intensified tariffs.

Metal Stocks Rose Despite Concerns over Increased Chinese Products

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President Joe Biden announced significant tariff increases on various Chinese imports to cut reliance on Beijing.

US Increases Tariffs to cut Reliance on Beijing

According to the White House, the new measures will likely affect $18 billion worth of Chinese goods.Slide 6: Major Stock that Edged HigherMetal stocks such as Tata Steel, Hindalco, Vedanta, and NMDC edged higher by almost 1%. JSW Steel, slipped 0.5%  from the previous close.

Impact of the Tariff

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