--Aluminum was the top performer in the yesterday's trading session at the LME platform up by 0.7%. By the end of the trading session aluminum closed at $1701/MT mark.
--An aluminum stock declined by over 90,125 MT in the last fifteen trading session and the cancelled warrants for the commodity continues to remain at high above the 45%. The short term supply squeeze in the commodity due to lack of availability of the metal at the Detroit Warehouse in the US and higher premiums has supported a higher closing in the metal.
--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%, Closed At $1701/MT
Published 02/06/2014, 04:09 AM
Updated 05/14/2017, 06:45 AM
Aluminum Up By 0.7%, Closed At $1701/MT
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