Despite a faster supply rebound warned by Goldman Sachs, aluminum prices continue to rise

The London Metal Exchange (LME) aluminum price rose by 0.8%, closing at USD 3,115.50 per metric ton. Wu Kunjin, head of base metals research at Minmetals Futures Co., stated that the market has been supported by some Chinese capital flowing into metal stocks and futures, with these funds betting that producers will deliver impressive profit reports in the first half of the year. Additionally, the metal’s 14-day Relative Strength Index (RSI) recently entered the oversold territory, which some believe indicates the price is poised for a rebound. Expand