Metal stocks rally as China considers $220 billion stimulus plan

The move was expected to bolster infrastructure spending in the world's second-largest economy, where stringent Covid-19 lockdowns have led to a slump in demand

steel, iron, metal, manufacturing, production, molten
The BSE Metal index finished 4.5 per cent higher. Vedanta and Hindalco gained over 6 per cent each, while Tata Steel added 5 per cent
BS Reporter
1 min read Last Updated : Jul 08 2022 | 12:09 AM IST
Shares of metal companies rallied on Thursday following reports that China was weighing a special bond of about $220 billion as a fiscal stimulus measure. 

The move was expected to bolster infrastructure spending in the world’s second-largest economy, where stringent Covid-19 lockdowns have led to a slump in demand. 

The BSE Metal index finished 4.5 per cent higher. Vedanta and Hindalco gained over 6 per cent each, while Tata Steel added 5 per cent. The revival in China is key for the improvement in prospects of global metal and commodity companies, say analysts.


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Topics :Metal stocksChinametal firmsFiscal stimulus

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