Short covering at the open. Fast money was hoping for soft...

  1. 38 Posts.
    lightbulb Created with Sketch. 7
    Short covering at the open. Fast money was hoping for soft outlook comments and signs of cracking but it wasn't there. Then the market realised that Aluminium earnings have peaked and the cost profile had been underestimated. Can't hedge the fwd order book because there is no market at these A$ prices. So the implicit leverage to future aluminium prices isn't there.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.