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With stimulus packages being announced across the globe amid the Covid-19 pandemic, base metals are seen benefiting from the same.
Copper, zinc and nickel have been rallying for the last 8 months as a broad-based weakening of the dollar made commodities cheaper for holders of other currencies. Besides, supply constraints from the pandemic-hit Latin American nations provided support to the metals, said brokerages.
Recently, the announcements of successful trials of multiple vaccines have also given a sentimental boost to the riskier assets such as crude oil and industrial metals, they said.
“We expect copper to cross $7,500 per tonne mark
