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Tata Steel, JSW Steel, and other metal stocks dropped up to 3% amid rising global trade tensions.
US’s 104% tariff on Chinese goods raised fears of steel dumping and price volatility.
Market volatility may persist as the US-China trade battle intensifies.
Shares of Indian metal majors like Tata Steel, JSW Steel, and Hindalco declined by up to 3% on Wednesday after the United States imposed a 104% tariff on certain Chinese goods, escalating its ongoing trade war with China.
The tariff move has sent shockwaves through global commodity markets, triggering concerns over demand contraction, rising input costs, and trade uncertainty. The Nifty Metal index fell over 1.8% intraday, mirroring the nervous sentiment across global exchanges.
Tata Steel and JSW Steel—with significant international exposure—were among the top losers. Analysts believe the tariff escalation could lead to surplus Chinese steel being diverted to India and other Asian markets, putting price pressure on domestic producers.
Investors are also watching for any reciprocal actions from China, which could deepen the global trade imbalance and hurt metal exports from India.
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