The present is contained in a metal box (4)
I believe the answer is:
here
'the present' is the definition.
(I've seen this before)
'contained in a metal box' is the wordplay.
I cannot really see how this works, but
'metal' could be 're' (Re is an example) and 're' is located in the answer.
The remaining letters 'he' is a valid word which might be clued in a way I don't see.
This may be the basis of clue (or it may be nonsense).
'is' acts as a link.
Can you help me to learn more?
(Other definitions for here that I've seen before include "Present; I say!" , "Hither" , ""___ be dragons" (old map inscription?)" , "Present - at this point" , "In attendance" .)