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Aluminium

Metals Continue to Outperform MarketsThe energy crisis continues to provide a strong support, not only for crude prices, but also for industrial metals. Last week aluminium added 9.2% and copper prices gained 9.17%. The absolute leader was zinc that jumped 20.49% in price. The price of aluminium, which is one of the most energy-intensive commodities, is at a record high. On Monday morning its price peaked at $3288.75 per metric ton, that is 17.56% above 2008 record highs. I suggest the upside movement will continue and we may soon have prices close to $3500 per ton.Copper has exceeded $10,300 per ton while spot contracts are traded with highest premium over futures. Copper stocks on the London Metal Exchange fell to the lows of 1974 this October. Goldman Sachs analysts suggest that copper stocks may run short by the second quarter of 2022. Copper prices this May rose above $10,746 per ton. The excitement in the commodities market may push prices towards new records. The technical picture highlights the possibility of copper prices soaring to $11,800-12,000 if it passes the May high. The price chart of Zinc, the third most popular non-ferrous metal in the world, points to another spin of the rally as its prices rose to $3830 per ton. Belgium Nyrstar N.V., a leading manufacturer of zinc, has reduced its zinc output by up to half at its plants in Budel, the Netherlands, Balen in Belgium and Auby in France since October 13 due to a significant rise in electricity prices. Some Chinese steelworks forcedly cut production of zinc due to a shortage of electric energy that was caused by record coal prices. No wonder zinc prices will rose to $4300-4500 per ton. Although the international Lead and Zinc Study Group (ILZSG) said that zinc will see a surplus of 217,000 tonnes in 2022. The energy crisis did not only impact Europe, but China reversed its activity in production and joined green economy acolytes. The Chinese industrial sector is still suffering from energy shortage caused by a lack of coal and environmental requirements to steelworks. All this mean that we could hardly expect any change to the existing upward trend in the near future.
COMEX:ALI1!Long
by scavoanastasiia
Profit From Aluminium Price Surge. Low EV/EBITDA combined with high demand for light metals (lightweight electric cars, bicycles, scooters etc.), raging inflation, and an all-time low gives this stock a good chance. I've been in since $14 and didn't expect it to move so quickly. It's a good opportunity to put some money. Don't go all in, at the end it's a lightly sketchy Chinese stock. But if you are into the metals industry, allocating 2-5% of your portfolio seems like a safe move for this one.
ALong
by josip
Industrial metals are set to witness an upcoming rally Industrial metals are set to witness an upcoming rally after Joe Biden's $6T budget proposal, The spending plans would fund investments roads, water pipes, broadband internet, electric vehicle charging stations and advanced manufacturing research. CENX is an industrial metal stock that's being traded within a descending channel on the 4hr time frame since March 12. Momentum and strength indicators are supporting that the stock would move upward to hit $14.65 and $16.25 levels consequitvely on the short term. Century Aluminum shares CENX rose 7.62% in yesterday's trading in a strong session for metals.
NASDAQ:CENXLong
by AlyaAkram
1
MCX Aluminium Intraday Tips For TodayAccording to this chart, aluminium is moving flat under the rectangle pattern. The top of this rectangle is the resistance , and the bottom of this rectangle is the support . The trend is making frequent parallel channels between the support and resistance of this rectangle. At present, aluminium is playing into support trendline (B) . There is a crucial support. Fakeout, volume spike, tail, massive buying pressure, and S-RSI crossover is made in that area. So, break out of the crucial support means downfall for the levels of 143.6 - 142.6 . ...but aluminium will try to climb because of 50 & 10 MA crossover. Therefore we may see prices at 146.6 - 147.4 - 148+ soon.
MCX:ALUMINIUM1!Long
by freestocktips
AA ascending triangle + moving average crossingAA is making a short-term ascending triangle since 8 days, that should break in 2 or 3 days, combined with a crossing of the weighted moving averages of 5 and 25 days. The corresponding MACD also indicates a buy signal. Those 3 indications are a good buy for a 2 or 3 weeks planned bullish move. The move should stop at or a little bit above 23$, which is the resistance since many months. However, be careful about keeping your position or selling it before the earnings report of January 15th.
NYSE:AALong
by MatG15