JSW Steel (down 5.63%), Sesa Goa (down 4.50%), Sterlite Industries (India) (down 4.41%), Sail (down 4.12%), Hindalco Industries (down 3.95%), Tata Steel (down 3.95%), Nalco (down 2.81%), NMDC (down 2.28%), Jindal Steel & Power (down 2.13%), Hindustan Zinc (down 1.63%) and Bhushan Steel (down 0.39%), edged lower.
The BSE Metal index was down 3.31% at 7,606.75. It underperformed the BSE Sensex, which was down 1.41% at 19,188.73.
The BSE Metal index had underperformed the market over the past one month till 2 July 2013, sliding 7.47% compared with the Sensex's 1.50% fall. The index had also underperformed the market in past one quarter, falling 10.91% as against Sensex's 2.22% rise.
A pair of surveys monitoring China's services sector released Wednesday, 3 July 2013, showed weak growth for June. The government-sponsored version of China's services Purchasing Managers' Index fell to 53.9 for June from May's 54.3, though it remained above the 50 level dividing expansion from contraction.
The services PMI in a separate survey by HSBC ticked up to 51.3 from 51.2 in May, but HSBC chief China economist Hongbin Qu said growth in the sector is expected to slow in coming months as the effect of value-added-tax reforms filter through.
China is the world's largest consumer of copper and aluminum.
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