Investment funds that piled into aluminum are in a bind. In the two weeks ended April 20, they more than doubled their net-long position in the metal traded on the London Metal Exchange, leaving them vulnerable as prices posted their biggest two-day plunge in almost three decades. The investor exodus from those
bullish bets may have exaggerated the slump in prices after the U.S. softened its stance on sanctions against Russian aluminum giant United Co. Rusal.
Source: Bloomberg Pro Terminal
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