And they’re set to surge here as well. Mining stocks are enjoying their biggest rally in 10 weeks, over in Europe. It looks like we’re gonna have ourselves a run of the mill “death to shorts” Santa Claus squeeze here too.
Aluminum for delivery in three months climbed 0.8 percent to $1,519 a metric ton by 11:07 a.m. on the London Metal Exchange after reaching $1,524.50 a ton, the highest since Nov. 27.
Here are some heavily shorted mining and/or steel names to watch into this melt up.
X -65% ytd
TCX -72% ytd
CENX -82% ytd
FCX -71% ytd
CLF -77% ytd
AKS -62% ytd
JOY -70% ytd
If you enjoy the content at iBankCoin, please follow us on Twitter
