Nickel, iron ore, steel lead rally as metals gather steam in second half

Pressure of domestic Aluminum and copper companies continues, may ease if prices rise sharply

Metal prices have rallied since the beginning of the year — but the price rise has not been uniform. The average prices of copper and zinc rose 3-5 per cent; increase in the price of nickel, iron ore, and steel are in double-digits.

Analysts said the fundamentals in the metal segment are currently supporting a bullish trend. However, sentiments do not support a big rally, as buyers and investors are waiting to see how the apparent trade war between the US and China pan out.

Gnanasekar Thiagarajan, director, Commtrendz Research, said global incidents such as an iron ore mine