Metals are in focus as it saw some buying come back and the inventories have been on the lower side. The markets are looking at better price prospects especially for some of the energy transition metals.

Speaking to CNBC-TV18’s Manisha Gupta, Kunal Shah of Nirmal Bang Commodities said right now it is more of a Christmas rally in metals rather than anything else. He said fundamentally strong metals right now are aluminium and nickel.

Shah said, “We can see some bit of short covering which can lead to a rally of another 1.50-2 percent going forward during this Christmas time. Post that we are not very optimistic about the outlook.”

He added, “Aluminium and nickel are the metals which are going to do well going forward in the first half of 2022. These two metals look fundamentally very strong but copper is just sentiment-driven rally which is going on right now.”

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Also Read: Copper price under pressure after global trade data report

First Published:Dec 22, 2021 4:59 PM IST