Look to Equity Darlings for Signs Aluminum Drama Is Here to Stay [Bloomberg Business News]
Aluminum Corporation of China Limited American Depositary Shares (ACH)
US:NYSE Investor Relations:
investors.kaiseraluminum.com/investor-relations
Company Research
Source: Bloomberg Business News
Investors don’t seem to believe that the rally in this month’s favorite equity sector is over, even as the risk of the sanctions that spurred the gains fades. Despite the drop in aluminum prices that followed the U.S. Treasury’s sudden decision to soften its stance on steps against Russian metals giant United Co. Rusal, money managers aren’t shunning global mining shares. After a quick retreat on Monday following the update from Washington, the Stoxx 600 Basis Resources Index on Tuesday resumed the advance that has lifted it more than 8 percent over the past two weeks, making it Europe’s best-performing sector in the period. Aluminum traders may be counting on the metal’s return to more normal levels following a resolution of supply constraints caused by the sanctions. But for equity investors, including Societe Generale SA and MPPM EK, it’s too early to say farewell to the metal’s risk premium, which has buoyed the shares of producers. The U.S. crackdown on one
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