Copper and Iron Ore price 7-year high

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $132.13 a tonne on Tuesday. That was the highest level for the steelmaking raw material since January 2014 and brings gains for 2020 to over 43%.
Northbound journey continued on metal stocks on account of increased base metal price on LME. Copper price is 7-year high on LME and Iron Price spiked to over 7-year high on account of China November PMI reported 3-year high. Local players hiked HRC price by Rs1200-2000 ton. Expects positive for Indian metal stocks like Hindalco, JSW Steel, Jindal Steel, NMDC (Iron ore player), Nalco.
NMDC big positive
Iron ore in Singapore climbed to an almost seven-year high as investors weighed supply figures from major exporters Australia and Brazil against robust demand in China. Shipments from Australia dropped to 15 million tons in the week to Nov. 27, from 17 million tons the prior week, according to initial Global Ports data compiled by Bloomberg. Expects positive for NMDC
'However, China's impressive industrial-led economic recovery from COVID-19 has meant that China accounted for roughly 76 per cent of the world's seaborne imports in the first nine months of 2020.'