Know how the Dragon is melting Metal stocks in India!

Metal stocks, already reeling at multi-year lows, took another punch on their face as the world's biggest consumer of all things mineral and metal -- China -- went through a strong bout of volatility.

Ore giant Vedanta, Steel maker SAIL and major Aluminum producer Hindalco fell between 4-10 percent in the Futures and Options market. The CNX Metal Index plunged 4.2 percent to 2,163 points compared withe the 1.9 percent fall on the Nifty.

Metal and metal products have their main market as China, where both the economy and the stock markets are undergoing a period of heavy volatility. Authorities shut down parts of Chinese stock markets after the main index slumped an additional 5 percent in early deals today. The Chinese economy is slowing down, which in turn is affecting overall demand in the world's second biggest GDP.

Futures of Vedanta plunged 10 percent, or 15.75 rupees, at 143.65. SAIL lost 7 percent, or 4.35 rupees, at 58.85. Hindalco dropped 7 percent, or 7.55 rupees, at 99.65. Tata Steel fell 4.7 percent, or 13.60 rupees, at 277 rupees.

(Image credits: openmarkets)