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Vedanta, NALCO and Hindustan Zinc shares surge up to 3% but concerns remain on West AsiaAccording to reports, Aluminum demand has been disappointing, even as factories have entered a busy period following the Lunar New Year. Stockpiles of primary aluminum have shot up to as high as 1.3 MT, the highest since 2020.By Nigel D'Souza  March 20, 2026, 9:21:49 AM IST (Updated)2 Min ReadShares of Metal companies NALCO Ltd., Vedanta Ltd., Hindustan Zinc Ltd. will gained up to 3% on Friday, March 20, despite a sharp sell-off in their base commodities overnight.

Shares of Lloyds Metals are trading with gains of over 4% in early trading on Friday, followed by Hindustan Zinc, Tata Steel and Hindustan Copper are trading with gains between 2% to 3%. Vedanta and JSW Steel, along with Jindal Steel shares are also trading with gains of up to 2%.

Prices of Silver fell 6%. while those of Aluminum on the LME were down as much as 8% on Thursday.

Vedanta has exposure to both the commodities, while Hindustan Zinc is the only pure listed Silver play in India. Despite the surge on Friday, there are multiple concerns surrounding these stocks.

Multiple factors are contributing to the concerns surrounding these stocks:

Firstly, Aluminum, one of the metals most affected by the war in Iran is struggling to attract buyers in China, with stockpiles rising. Earlier this week, prices had surged to a four-year high.

According to reports, demand has been disappointing, even as factories have entered a busy period following the Lunar New Year. Stockpiles of primary aluminum have shot up to as high as 1.3 MT, the highest since 2020.

The other major reason being statements by Fed Chair Jerome Powell, who signaled that if progress is not made on inflation, there could be no rate cuts in 2026. Higher interest rates are generally negative for metals.

Strength in the US Dollar index, which is back near the 100 level, and liquidation of long positions are also some of the other factors at play for these stocks.

All constituents of the Nifty Metal index fell on Thursday, led by Lloyd Metals, which fell 5%, while Hindustan Zinc, Hindustan Copper, and Vedanta fell between 1.5% to 5%. Shares of NALCO also declined 3% on Thursday.

For the month so far, the Nifty Metal Index is down 8%, with losses being led by both Hindustan Zinc and Hindustan Copper, which are down over 15%, while APL Apollo, JSW Steel and Tata Steel shares are down between 10% to 14% for this month so far.Continue ReadingFirst Published: Mar 20, 2026 7:18 AM ISTTagsHindustan CopperHindustan Zinc Ltd HZLNational Aluminium Company NALCONifty Metalshare market todayVedanta Share Price