The global metal mania is continuing as prices of all base metals continue to sky rocket Copper’s already doubled in the past year to more than $10,000 a ton and Bank of America expects it to repeat the 100% performance and hit $20,000.
The spotlight on Monday’s trade is on iron ore as prices as future trade in the global market jumped more than 10% to hit a fresh record high of $226 a ton. It has rallied over 25% in just one week.
Aluminum not left far behind is charging up towards its 2018 peak of $2,718
In the last 30 trading session as the market headline remained tepid and flat metals stocks have given soaring returns. Here are some of the top gainers-:
SAIL - 80%
JSW Steel - 63%
Tata Steel - 50%
NMDC 27%
Nalco: 23%
And the bets continue on brokerages as Goldman Sachs, JPMorgan continue to bet on the space and stocks.