Metal Stocks Outlook
Seen rising on China stimulus, Fed rate cut hopes
This story was originally published at 21:34 IST on 3 October 2025
Register to read our real-time news.Informist, Friday, Oct. 3, 2025
NEW DELHI – Stocks of metal companies are expected to rise next week amid "hope of stimulus measures from China, weak dollar, and expectations of rate cuts by the US Fed," said Sugandha Sachdeva, founder of SS WealthStreet. The Nifty Metal is likely to find immediate supoort at 10000 points and face resistance at 10380 points in the coming week, Sachdeva said.
Friday, the Nifty Metal ended 1.8% higher at 10277.10 points. This week, the index rose almost 4%, much higher than the benchmark Nifty 50 which rose about 1%.
Earlier this week, IDBI Capital Markets & Securities Ltd. said domestic steel production growth remains robust with addition of new capacities, however, falling iron ore and rising coking coal prices are likely to offset margin benefits.
In the coming weeks, some recovery in India steel prices is expected amid post-monsoon demand pick-up and a decline in imports, an analyst at a domestic brokerage house said. Meanwhile, copper prices are expected to remain high until supply side challenges are resolved. Demand for the non-ferrous metal remains robust, the analyst said.
According to data from IDBI Capital, Indian steel prices fell 2% month-on-month to INR 48,500 per tonne in September while Chinese steel prices declined by 6% on month to $470 per tonne. Among non-ferrous metals, aluminium prices increased 2.3% on month to $2,679 per tonne and copper prices increased by 3.7% on month to $10,269 per tonne. Friday, October futures for copper ended 3.3% higher at INR 989.8 per kilogram on the Multi Commodity Exchange.
A mudslide at Indonesia's Grasberg mine, world's second-largest, has taken about 3% of global supply offline, with full recovery not expected until 2027.
Nuvama Institutional Equities increased the target price for Jindal Steel by 20% to INR 1,426 after the company commissioned a 4.6-million-tonne-per-annum blast furnace and a 3 mtpa basic oxygen furnace, which were delayed by almost two years from the initial timeline.
TOP HEADLINES
* Moody's changes rating outlook on JSW Steel to 'positive' from 'stable'
* IPO Alert: Jain Resource shares end 37% higher on listing day
* IPO Alert: Epack Prefab shares end 6.5% lower on listing day
* IPO Alert: BMW Ventures shares end 25.2% below issue price on debut
* Lloyds Metals Apr-Sept provisional iron ore output up 24% on year
* IPO Alert: RK Steel files DRHP for fresh issue of up to 20 mln shares
* APL Apollo Tubes Jul-Sept sales volume surges to record high of 855,037 tn
* IPO Alert: BMW Ventures to list on Wed; issue price set at INR 99/share
* IPO Alert: Epack Prefab to list Wed, issue price set at INR 204/share
* IPO Alert: Jain Resource listing Wed; issue price set at INR 232 per share
* Vedanta extends demerger scheme deadline by six months to Mar 31
* Crisil upgrades APL Apollo's long-term bank facilities rating to 'AA+'
* Consider IFCI's INR 1.7 bln claim, NCLT to Kohinoor Steel resolution officer
* NCLAT upholds admitting Central Bk of India IBC plea vs Superfine Extrusions
* Man Industries says issues pointed in SEBI order are old, won't affect ops
* Jindal Steel commissions 3 mtpa basic oxygen furnace at Angul unit
* Tata Steel in pact with Netherlands govt to cut carbon dioxide steel output
* SEBI bans Man Industries, co executives for 2 years over diversions of funds
* IPO Alert: Vishal Nirmiti files draft papers with SEBI for fresh issue, OFS
* IPO Alert: Bombay Coated files DRHP for fresh issue of up to 15 mln shares
* Six killed as gate refractory of Godawari Power's Raipur unit collapses
* IPO Alert: Behari Lal Engineering files DRHP with SEBI for fresh issue, OFS
* IPO Alert: Jain Resource offer closes with 15.9 times subscription
* IPO Alert: BMW Ventures issue subscribed 1.5 times as of final day
* Jindal Steel commissions 5 mtpa blast furnace at Angul unit
Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % | Resistance | Support |
| HINDALCO INDUSTRIES LTD | 780.35 | 4.90 | 804.90 | 751.90 |
| HINDUSTAN COPPER LTD | 338.40 | 8.50 | 347.70 | 330.30 |
| HINDUSTAN ZINC LTD | 491.50 | 9.40 | 506.70 | 471.30 |
| JINDAL STEEL LTD | 1076.50 | 4.60 | 1109.40 | 1032.80 |
| JSW STEEL LTD | 1161.70 | 2.70 | 1191.00 | 1131.20 |
| JINDAL STAINLESS LTD | 788.25 | (-)0.10 | 814.10 | 748.00 |
| NATIONAL ALUMINIUM CO LTD | 221.16 | 10.30 | 230.20 | 210.00 |
| NMDC LTD | 77.10 | 2.80 | 78.90 | 75.20 |
| STEEL AUTHORITY OF INDIA LTD | 134.96 | 3.00 | 139.00 | 132.70 |
| TATA STEEL LTD | 173.21 | 3.50 | 178.60 | 165.40 |
| VEDANTA LTD | 470.95 | 5.10 | 487.20 | 456.40 |
| NIFTY METAL | 10277.10 | 3.90 | 10482.50 | 10005.90 |
| NIFTY 50 | 24894.25 | 1.00 | 25006.10 | 24691.60 |
| BSE SENSEX | 81207.17 | 1.00 | 81638.70 | 80433.80 |
End
US$1 = INR 88.77
Reported by Shakshi Jain
Edited by Akul Nishant Akhoury
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