US import curbs cushion Aluminium: Angel Commodities Broking

Views of Ms. Kaynat Chainwala (Research Analyst - Base Metals, Angel Commodities Broking):

"At the very onset of this week, Commodities gala ended abruptly following a sharp rebound in the dollar index. Base metals are no different and the counter is visibly hurt by recovery of Greenback from four year low levels.

Aluminium is however, basking under the glory of import curbs announced by US President Trump on Friday. The Commerce's "Section 232" national security reviews of Steel and Aluminium industries comprised of global tariff options of at least 24 percent on all steel products from all countries, and at least 7.7 percent on all aluminum products from all countries. This sparked uncertainty in the global arena inviting concern and restraint advice from China and EU, in turn protecting Aluminium so far this week."

Source : Equity Bulls

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