Metal Stocks Rally as Trump’s Tariff Deadline May Get Extended — Hindustan Copper, Vedanta, Tata Steel Among Gainers

Market Performance

On June 27, metal stocks surged, with the Nifty Metal Index gaining 1%, marking its sixth consecutive session in the green. The index has seen a cumulative rally of nearly 7% over the past six trading sessions.

This uptick followed a key announcement from the White House, which eased market concerns about the July 9 tariff deadline on imports set by US President Donald Trump.

Main News: Trump's Tariff Deadline 'Not Critical' Boosts Market Sentiment

White House Press Secretary Karoline Leavitt stated that the July 9 deadline for reimposing reciprocal tariffs is "not critical" and may potentially be extended. However, she noted that the final decision lies with President Trump.

"Perhaps it could be extended, but that's a decision for the President to make," she said on June 26.

This flexibility comes after Trump's earlier move to impose multiple reciprocal tariffs, which had been paused for 90 days. That pause is scheduled to expire in July, adding uncertainty to global trade.

Further reinforcing optimism, President Trump hinted at a "huge" trade deal with India, suggesting that the US is open to agreements beyond the set deadline.

Company-Wise Share Price Movement

Here's how individual metal and mining companies performed on June 27:

Top Gainers

• Hindustan Copper: Share price rose to 3%
• Vedanta: Shares gained as much as 3%

Strong Performers

• NMDC: Up nearly 2%
• National Aluminium Company (NALCO): Also gained close to 2%

Moderate Gains

• Steel Authority of India (SAIL): Share price climbed over 1.3%
• Tata Steel: Also saw an uptick of 1.3%+

Marginal Upside

• Jindal Steel and Power
• Hindalco
• Jindal Stainless Steel
• Hindustan Zinc
• JSW Steel
• Adani Enterprises
• All of these companies were trading in the green with marginal gains.

Outliers

• APL Apollo Tubes and Welspun Corp were among the few stocks in the red, showing marginal losses

Why Are Metal Stocks Rising?

Two primary reasons are driving the rally:

• Tariff Uncertainty Eases: The indication that the US may extend the July 9 deadline reduced pressure on Indian exporters in the metal sector.
• Dollar Index Declines: A weaker dollar makes metals more affordable for global buyers, increasing the export potential of Indian metal producers and giving them better pricing power.

India-US Trade Talks Underway

• Indian officials are currently in the US to negotiate an interim trade agreement.
• The focus is now on crafting a mutually beneficial deal rather than merely rushing to meet the July 9 deadline.

A senior Indian official emphasized that India is prioritizing a "win-win" deal over strict compliance with the US-imposed deadline.

Company Details (Share Price Movements)

Summary of the Article

• Metal stocks, including Hindustan Copper, Vedanta, and Tata Steel, saw a sharp rise on June 27.
• The Nifty Metal Index gained 1%, continuing a 6-day rally totaling nearly 7%.
• Optimism was fueled by the White House hinting at flexibility in Trump's tariff plan.
• A fall in the US dollar index also boosted metal export sentiment.
• Key Indian metal exporters ended the day in the green, while a few outliers, such as APL Apollo Tubes, showed marginal weakness.