INSUBCONTINENT EXCLUSIVE:
highest closing level since March 1.
Hindalco Industries was the best gainer on the metal index, surging 9.1% to Rs 264.75 followed by
National Aluminium Company, Vedanta and JSW Steel which rallied 4.3-9.0%.
The BSE Metal index is down 0.7% for the current calendar year
prices hit their highest level in nearly seven years the previous day on growing supply concerns after US sanctions on Rusal
Nickel prices have rallied to over three year highs on growing concerns over US sanctions to Russia.
Edelweiss Securities sees Hindalco
Industries as one of the beneficiaries of the surge in aluminium prices
likely to benefit integrated players Hindalco, Alcoa and South32 the most
While risks of potential supply ramp up from China persist, we believe, in the near term, LME Al integrated players and US convertors will
