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Base metal rally not in sync with fundamentals

Higher prices, however, will continue to boost profit at Hindalco, HZL and Vedanta in near term

Ujjval Jauhari  |  New Delhi 

Base metal prices on the London Metal Exchange continue to rally, helping Hindalco, Vedanta and Hindustan Zinc to touch their all-time or 52-week highs. While zinc has been the best performing base metal, with LME prices almost doubling from the lows seen at the start of the year, other metals follow. Copper prices are at levels earlier seen 16 months earlier; aluminium and lead have made smart gains. A rally last month was on hope that a Trump-led administration would boost infrastructure spending in America, spurring demand. In contrast to sentiment at the start ...

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First Published: Wed, November 30 2016. 23:34 IST
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