Stocks of base metal companies Hindalco, Vedanta and Hindustan Copper were up between 2.5 and 14.5 per cent on Monday, even as leading indices fell by over two per cent. With this, base metal stocks have seen gains of 50-198 per cent since November 2020 .
Amid a steady economic recovery and Covid-19 vaccination drive in full swing, global demand for base metals such as copper and aluminium has outstripped the supply, pushing spot prices of these metals higher than futures. Besides, expectation of higher inflation and veering of government policies towards electric vehicles (EVs), too, seem to be drawing