New Delhi, Jan. 2 -- Metal stocks have been on a tear lately. Stocks such as Hindustan Copper have soared by 60% over the last month, while Hindustan Zinc, National Aluminium, and Vedanta have jumped 15-27% in the same period.

Sectoral index Nifty Metal has jumped almost 11% compared to the benchmark Nifty 50's over 1% gain over the last month. On Friday, 2 January, Nifty 50 and Nifty Metal hit their record highs of 26,340 and 11,433.80, respectively.

The primary factor behind the rally in metal stocks is the demand-supply mismatch. Additionally, robust gains in precious metals in 2025 have given a psychological push to industrial metals, such as copper, aluminium and Zinc.

Global factors are also at play as macro data from China has i...