Brent crude, silver and aluminum prices stagnate during the US Independence Day holiday

Aluminum price sees tight supply

The price of aluminium, which fell from a two-year high of 2,792 to 2,470 at its lowest level since mid-June, continues to trade in an uptrend above this low, while supported by uptrend line from February to June at 2,505.

A rise above Wednesday’s high of 2,561 is needed for the 55-day SMA at 2,582 to be in focus.

The currently unexpected break at 2,470 would involve the December 2,399 peak.