As we alluded to earlier aluminum hit fresh 13-year highs overnight due to energy disruptions, it may take a while to punch above the $US3000/MT area but the trends up which is the direction in which surprises usually unfold. We are long the related AWC which has a 40% stake in aluminum producer Alcoa, we see value in AWC due to the supply side of the equation.
MM remains bullish and long AWC looking for 20% upside
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