Metal shares rally; Tata Steel, Hindalco, Vedanta surge up to 10%

At 11:37 am, Nifty Metal and the S&P BSE Metal index were up 4 per cent each, as compared to a 0.50 per cent rise in the benchmark indices Nifty50 and the S&P BSE Sensex

Shares of metal companies were in focus as they rallied by up to 10 per cent on the bourses on expectation of higher demand and amid reports that China may soon impose export duties on steel products.

As per reports, China is considering imposing more export duties, between 10-25 per cent, on steel products including Hot-Rolled Coil from August 1.

"The country is the biggest steel exporter but, now, is curbing carbon emissions by placing production limits on Steel, one of its most polluting industries," reports say. This, analysts say, may help Indian producers by capturing the Steel