Here’s why steel, aluminium and copper prices have been rallying globally
Metal stocks continue to rally globally riding on a surge in steel, copper and aluminium prices.
Steel prices have been rallying for around six months now as the demand has been more than expected.
“Market has been excellent in the last few months, there has been good demand,” said VR Sharma, MD of JSPL in an interview with CNBC-TV18 recently. “… This is a pent-up demand coupled with true and real demand worldwide,” he added.
It’s a similar story for copper with the metal hitting decadal highs in 2021.
LME aluminium prices also hit a 3-years high earlier this month.
“Copper and aluminium prices will keep on being strong. The momentum is pretty strong because of the basic attitude towards the economic recovery on a worldwide scale,” said Mark To, Head of Research at Wing Fung Financial Group in an interview with CNBC-TV18.
Watch the accompanying video to know more via fundamental on the ground research and sell-side brokerages who are commenting on price expectations etc., for these three commodities.
Source: CNBC TV18