US-China trade war, fragile prices hurt metal sector performance

The metals sector's depressing performance was emblematic of the country's GDP growth during the quarter

Metal sector growth in the country slowed drastically in Q4FY19, with net sales growing at only 0.9 per cent compared to a 9.5 per cent rise recorded in the corresponding quarter of FY18.

Net profit for the sector plummeted to 17.8 per cent in Q4FY18. In the corresponding period of FY18, net profit had moved up by 3.9 per cent. The US-China trade conflict is to be blamed for the fall in prices of metals along with dragged sales and net profits of players in the sector, according to CARE Ratings.

“The escalating trade war between China and the US