--Aluminum was the top performer in the yesterday's trading session at the LME platform up by 0.7% in spite of the negative factory orders data from the US.
--An aluminum stock declined by 84,125 MT in the last thirteen trading session and the cancelled warrants for the commodity continues to remain at higher levels. This positivism on the inventory front and short term supply squeeze in the commodity due to lack of availability of the metal in the Detroit Warehouse and higher premiums has supported the metal to close higher.
--For the day, we are recommending to buy aluminum form the lower levels as the commodity might get support from the prevailing short term supply squeeze due to lack of availability of the metal at Detroit warehouse and higher physical premiums which are still hovering above 20 cents per pound.
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Aluminum Up By 0.7%, Buying Recommended
Published 02/05/2014, 06:38 AM
Updated 05/14/2017, 06:45 AM
Aluminum Up By 0.7%, Buying Recommended
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