A spectacular rally in copper has enthralled market participants as prices have been marching ahead almost every month since testing the lows of Rs 335.95 per kg in mid-March 2020. It is not just about copper which has climbed to record highs of around Rs 737 a kg at MCX, and is trading close to a decade’s high at LME, the entire base metal complex is witnessing a euphoric move driven by optimism about swift economic recovery from the pandemic, vaccine rollouts gathering pace and huge liquidity being pumped into the global economy by major central banks and governments across the globe. The resumption of buying by China after Lunar New Year holidays has further acted as a catalyst for this unabated run in the base metal complex.