Copper Holds Near Highest Since 2011 …Positive for Hindalco, Vedanta and Nalco
Expects positive for Hindalco, Vedanta and Nalco as Copper held steady after a weaker dollar helped lift the metal to its highest close in nine years, while aluminum pared a rally driven by the prospects for tighter supply in China. Key indicators for consumer and industrial activity in China, the top metals user, are also picking up with car sales rising. Robust demand for commodities as the economy continues to recover from the pandemic. Strong US economy data and improved European economy boosted base metal price on LME. Copper price surged 1.5% to $9551 and Aluminum price gained marginally to close at $2125/ton on LME (London Metal Exchange) #NIFTY50 #NIFTYMETAL #HINDALCO #NELCO #COPPER