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Copper is now nearly four times as expensive as aluminium
Edited by : AL CIRCLE
1 min read
After hitting a high of $2803 on 3rd May 2011 at the London Metal Exchange (LME) , the price of Aluminium has corrected by nearly 12% and this correction provides a good opportunity for the bulls. Decreasing supplies and an ever increasing demand also add to the positive bias for the metal.
The Copper and aluminium ratio has rebounded to near record levels and given our expectation of rising copper prices this should be supportive of aluminum. said Mr Ivan Szpakowski analyst at Credit suisse.
“Aluminum is set to play catch up and redress the imbalance,” says Nick Moore, head of commodity strategy at RBS.
India’s Sharekhan Ltd, a leading brokerage, has initiated a 'BUY' call at $2,466 as per a report.
At the Multi-Commodity Exchange of India (MCX), Aluminium had hit a high of 125.10 on 4th May, 2011, from which it has fallen to 113.75 on July 23.
The Copper and aluminium ratio has rebounded to near record levels and given our expectation of rising copper prices this should be supportive of aluminum. said Mr Ivan Szpakowski analyst at Credit suisse.
“Aluminum is set to play catch up and redress the imbalance,” says Nick Moore, head of commodity strategy at RBS.
India’s Sharekhan Ltd, a leading brokerage, has initiated a 'BUY' call at $2,466 as per a report.
At the Multi-Commodity Exchange of India (MCX), Aluminium had hit a high of 125.10 on 4th May, 2011, from which it has fallen to 113.75 on July 23.
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