Metal shares in demand

Nine metal shares rose by 0.78% to 2.03% at 9:26 IST on BSE after upbeat Chinese trade data.

Hindalco Industries (up 2.03%), Sesa Sterlite (up 1.81%), Hindustan Zinc (up 1.2%), Sail (up 1.14%), JSW Steel (up 1.13%), Tata Steel (up 1.11%), Jindal Steel & Power (up 0.92%), NMDC (up 0.84%) and Bhushan Steel (up 0.78%), edged higher.

The S&P BSE Metal index was up 1.26% at 9,841.42. It underperformed the S&P BSE Sensex, which was up 1.85% at 21,384.95.

The S&P BSE Metal index had outperformed the market over the past one month till 6 December 2013, rising 5.33% compared with the Sensex's 0.49% rise. The index had also outperformed the market in past one quarter, rising 19.27% as against Sensex's 8.96% rise.

China's trade surplus widened last month to the largest in more than four years as exports exceeded estimates. China's inflation slowed more than estimated last month, after data on Sunday, 8 December 2013, showed export growth helped swell the nation's trade surplus to $33.8 billion, the widest since January 2009. The consumer-price index rose 3% from a year earlier, the National Bureau of Statistics said today in Beijing.

China's trade surplus widened last month to the largest in more than four years as exports exceeded estimates. The surplus of $33.8 billion was the biggest since January 2009, data from the General Administration of Customs showed yesterday in Beijing. Outbound shipments rose 12.7% from a year earlier, while import gained 5.3%.

China is the world's largest consumer of copper and aluminum.

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