Mining Stocks Surge in European Trade

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