Vedanta, NALCO, Hindustan Zinc shares fall up to 3% as silver, aluminium, other metal prices tumble. Here's why (opens original article in a new tab)
Metal company shares declined as prices for silver, aluminium, and other metals fell due to a stronger dollar, geopolitical tensions, and Federal Reserve concerns.
- Metal companies' shares fell up to 3% as metal prices tumbled due to a stronger dollar and Strait of Hormuz reopening expectations
- Silver prices plunged 14% this week, trading at less than half its all-time high
- Aluminium prices fell to a three-month low amid stronger US dollar and Middle East risk premium unwinding
- Federal Reserve's hawkish stance and inflation concerns contributed to metal price declines
- Metal stocks experienced a pullback after sharp gains during West Asia conflict
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