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Coronavirus: US-China trade negotiations to keep base metal prices low in near term

Moneycontrol - India Ratings on Thursday revised its outlook on the country's base metals sector to negative from stable for the coming fiscal, stressing that the coronavirus outbreak, continuing US-China trade dispute and subdued global demand would keep prices low in the near term.

Prices may gradually improve as the pandemic is contained and the second phase of US-China trade negotiations is concluded, the rating agency said in a statement.

As part of its study, the agency has covered the copper, zinc, aluminium and coal sectors.

India Ratings and Research (Ind-Ra), however, has maintained a stable outlook for FY21 on the key rated sector entities, given the majority of them have an adequate liquidity position, strong financial flexibility, a low-cost position and a dominant market position.

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