💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Aluminum May Trade Marginally Higher, Positive Cues

Published 02/21/2014, 04:25 AM
Updated 05/14/2017, 06:45 AM


--Aluminum has been the lone outperformer in the yesterday's trading session at the LME platform in line with our yesterday's view.

--We expect the aluminum prices to continue its trend in the today's trading session as well. Yesterday we updated about probable supply cuts anticipated by Alcoa and Rusal for 2014 especially outside China. Additionally, according to secondary sources major Aluminum producer Rusal expects the Aluminum premiums might rise further by 50% and estimates that the further new supply of aluminum which would increase in the wake of new LME warehouse rules might move get shifted off exchange there by creating supply tightness in the commodity.

--During the day we expect aluminum prices to trade marginally higher as the metal might take positive cues from the comments of Rusal and the additional support might come from the positive global equities.

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.