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Aluminum vs Steel

Launched: July 3, 2014, and closed April 27, 2015


We are closing the Aluminum vs Steel theme. We retain conviction in the aluminum theme: Spurred by new US policies to nearly double fuel economy in the next decade, auto markers are shifting to lighter materials, led by Ford's shift to aluminum body construction for its flagship F-150 pickup.  And a new breakthrough could create an entirely new source of demand: researchers have devised aluminum batteries that promise faster charging and safer use than lithium batteries, although commercial production is at least a few years away.

When we launched the trade, the iron and steel industry stood to lose and was further burdened by global overcapacity and a relentless price war being waged by the biggest miners to push smaller competitors out of business. Although those dynamics remain very much in force for those stocks, they are rallying strongly in part thanks to the updraft provided by the dramatic surge in China's stock market. Against that backdrop, MRP therefore recommends closing the theme. Launched July 3, 2014.


Last updated April 27, 2015
 
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Warren Hatch, PhD, CFA
Portfolio Management and Global Investment Strategy
McAlinden Research Partners

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