Thursday, May 27, 2010

Aluminum Corp of China (NYSE:ACH), Alumina (NYSE:AWC), and Reliance Steel and Aluminum (NYSE:RS) Soaring Today

Alumina (NYSE:AWC), Reliance Steel Aluminum (NYSE:RS) Aluminum Corp of China (NYSE:ACH) and Alcoa (NYSE:AA) are all soaring today, especially the first three, as a durable goods report implying the industrial sector of the U.S. is continuing to recover, even with the economic concerns over the European sovereign debt crisis and possibility China may cut some imports in an effort to battle inflation.

The aluminum sector has been getting crushed recently, and all the right elements seem to have come together to at least give it a temporary reprieve.

Even without the guarded news, aluminum producers would probably have still did well, as they were due for a rebound, but the data points to at least a neutral situation, which means things could be level for demand, and possible grow a little in the near term.

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