Metal stocks slump on China growth woes

Metal majors such as Hindalco, Tata Steel, Vedanta and SAIL have hit 52-week lows

Mining And metal stocks witnessed selling pressure tracking a sell-off in global commodities on worries that the sluggish economic growth in China, the world's largest consumer of metals, would lead to lower export demand going forward.

At 11:10AM, August futures on the Multi-Commodity Exchange, Aluminium, Nickel, Copper, Lead and Zinc futures were down between 1-3.5%.

The BSE Metal index was down 4.4% with most metal stocks such as Hindalco, Tata Steel, Vedanta and SAIL hit 52-week lows.

In the metal pack, Hindalco, Vedanta, Tata Steel, SAIL and Jindal Steel were down 2-6% each.