Metal stocks extend three-day slide; Vedanta, NALCO and Hindustan Zinc drop up to 3.5%

Base metals on the London Metal Exchange fell sharply, with aluminium down more than 3% to $3,122.50 per tonne. Zinc, copper and silver each declined about 2% to $3,421.50 per tonne, $13,086.50 per tonne and $3,421.50 per tonne, respectively. The drop was driven by a stronger U.S. dollar and rising expectations of a U.S. Federal Reserve rate hike, which can lift financing costs and curb demand for dollar-priced commodities. Indian metal stocks also came under pressure, with NALCO, Hindustan Zinc and Vedanta down 3.27% to 4.38% on the day, extending a three-session decline.