🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Aluminum Higher By 0.3%, Selling Recommended

Published 02/12/2014, 06:00 AM
Updated 05/14/2017, 06:45 AM


--Aluminum ended Friday’s trading session marginally higher by 0.3% at the LME platform, closing at $1707/MT.

--Aluminum stock have been witnessing a decent fall in its inventories since last eighteen trading sessions which declined by 124,075 MT and the cancelled warrants for the commodity continues to remain high near to 46% mark as a percentage of delivery. However this positive inventory picture is not protecting the commodity from falling.

--For the day we have a sell view on Aluminum as the higher inventories still continues to remain a cause of concern. However the commodity might get positive support from higher physical premiums due to the prevailing short term supply tightness due to the abnormally low temperatures in the US.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.