This week, aluminum prices approached long-term weekly demand zones. These are price levels that typically trigger a strong upswing. Before the most recent short-term declines, prices bounced off these levels, rising back into zones of strong downward movement (supply zones). Should prices continue to break downward, it could indicate a downtrend continuation.
Moreover, the longer prices continue to trade within this range, the longer volatility and current uncertainty will persist. The Aluminum Monthly Metals Index (MMI) continued sideways, with…Aluminum Prices Slip Despite Smelter Shutdowns Chipping Away At Supply
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