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Nifty Metal Index is the biggest sectoral gainer in trade today- registering gains in excess of 2.5%. Iron ore hit the lowest level since last May to trade well below $100/ton. JP Morgan believe NMDC’s iron ore prices could see sharp cuts in the near term. They add on to say that falling raw material costs should benefit JSW Steel the most. They are also not ruling out downward pressure on steel prices. They advocate buying JSW Steel / TATA Steel on dips. #stocks #stockmarketnews #metal #JPMorga
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