Indian metal stocks fell up to 2%, with major companies like Lloyds Metals & Energy and Vedanta facing significant losses. Global trade tensions, particularly US tariffs on steel and aluminum, are affecting market sentiment and raising concerns over future metal demand.

U.S. President Trump said the tariffs on imported steel in the U.S. will increase from 25 percent to 50 percent, effective June 4.

President Trump said Friday that tariffs on imported steel and aluminum would increase to 50% from 25%, effective Wednesday.