| Adverse economic developments in China, which accounts for 40 per cent consumption of major metals globally, will negatively impact the metals industry in India, says a rating agency. “Adverse economic developments in China may have a directionally negative impact on the Indian metals industry as well as on sectors with an export focus,” India Ratings and Research (Ind-Ra) said in a statement.
Given the soft demand scenario in China, base metals prices declined in the range of 2-21 per cent in the first six months of 2015, said the domestic arm of global credit rating agency Fitch. On an year-to-date basis, Chinese domestic hot roll coiled steel prices have declined by 21 per cent, London Metal Exchange (LME) nickel prices by about 12 per cent, LME copper metal prices by 9 per cent and China alumina prices by about 10 per cent...............................................Full Article: Source
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