Metal shares fell by 0.26% to 1.95% on BSE after copper prices slipped on Wednesday, 30 May 2012.
At 3.07 pm Sterlite Industries (down 1.95%), Tata Steel (down 1.50%), Sesa Goa (down 1.19%), Steel Authority of India (down 1.13%), JSW Steel (down 0.69%), Bhushan Steel (down 0.39%), Nalco (down 0.34%) and Hindalco Industries (down 0.26%).
Copper slipped on Wednesday after news that Spain needed to issue new debt to recapitalise a troubled lender and the country suffered another rating downgrade, stoking worries about the euro zone's debt crisis.
Three-month copper on the London Metal Exchange edged down 0.4% to $7,639 a tonne, after falling 0.2% on Tuesday.
The most-active September copper contract on the Shanghai Futures Exchange fell 1.1% to 55,480 yuan ($8,700) a tonne, after losing 0.2% in the prior session.
Copper, used largely in power and construction, is considered a gauge of economic activity.
Meanwhile, optimism about Chinese stimulus measures to power the economy took a hit after a state media report suggested the package will be relatively mild compared to actions taken at the height of the global financial crisis four years ago. China is the world's largest consumer of copper and aluminum.
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At 3.07 pm Sterlite Industries (down 1.95%), Tata Steel (down 1.50%), Sesa Goa (down 1.19%), Steel Authority of India (down 1.13%), JSW Steel (down 0.69%), Bhushan Steel (down 0.39%), Nalco (down 0.34%) and Hindalco Industries (down 0.26%).
Copper slipped on Wednesday after news that Spain needed to issue new debt to recapitalise a troubled lender and the country suffered another rating downgrade, stoking worries about the euro zone's debt crisis.
Three-month copper on the London Metal Exchange edged down 0.4% to $7,639 a tonne, after falling 0.2% on Tuesday.
The most-active September copper contract on the Shanghai Futures Exchange fell 1.1% to 55,480 yuan ($8,700) a tonne, after losing 0.2% in the prior session.
Copper, used largely in power and construction, is considered a gauge of economic activity.
Meanwhile, optimism about Chinese stimulus measures to power the economy took a hit after a state media report suggested the package will be relatively mild compared to actions taken at the height of the global financial crisis four years ago. China is the world's largest consumer of copper and aluminum.
....more info