Metal share Price Fall Amid a Stronger Dollar; Hindustan Copper Lead Losses

Mumbai, November 18: Shares of leading metal companies are under pressure today, weighed down by a stronger US dollar that has dampened investor expectations of a Federal Reserve rate cut in December. As of 2:00 PM, the Nifty Metal index was down 0.97%, or 101.40 points, at 10,394.45, trading within a range of 10,325.60 to 10,483 so far. Hindustan Copper was among the top decliners in the sector.

Major Metal Stocks Fall (As of 2:00 PM)

The decline in metal stocks is being led by Hindustan Copper, which was down by 2.30% at ₹330.75. SAIL was down by 2.13% at ₹138.32, while National Aluminium was down by 1.79% at ₹256.10. Hindalco Industries was trading lower by 1.60% at ₹794.20, and Hindustan Zinc was trading lower by 1.58% at ₹476.25. Lastly, Vedanta was down by 1.50% at ₹513, and Jindal Steel was down by 1.02% at ₹1,069.

Why Are Metal Stocks Falling?

Metal stocks are declining amid a stronger US dollar, which has weighed on base metal prices such as copper and aluminium. The stronger dollar has also reduced expectations of a US Federal Reserve rate cut in December. Market analysts note that the probability of a rate cut has now fallen to around 40%, down from over 60% just last week.

What’s Ahead for Indian Metal Stocks?

A stronger US dollar typically leads to a decline in base metal prices such as copper and aluminium, as investors prefer US dollar assets or equities over commodities. Despite today’s drop in metal stocks, they continue to outperform the broader market on a year-to-date basis. In 2025, the Nifty Metal index gained approximately 19.5%, more than double the 9.5% rise recorded by the benchmark index. Going forward, investors will closely watch the US dollar and hope for a potential rate cut in December.

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