Aluminium prices 52 Week Low 0.66 USD/lb 52 Week High 1.02 USD/lb, Prices now sitting at 0.82 USD/lb. As a product, it basically is an alternative to steel but lighter, but iron ore prices are stubbornly sitting above 100$ a tonne. I expect the weakness in price is the short selling due to the market at a almost high and expecting a softening cycle, however, iron prices are still high. Alcoa is a ham and egg management style which don't give any surprises, but, strongly focused on production and output. Having said all that, you must then go back to fundamentals, Yearly high of 3.20 and yearly low of 2.12 with a PE of 6.99. Some brokers put fair value at 1.70 to 2.40. All this means didley squat to mum and dad investors because they want returns, so I am awaiting the next dividend prior to making any decisions.
AWC Price at posting:
$2.20 Sentiment: Hold Disclosure: Held
