Aluminium prices have been in freefall, dragging aluminium stocks lower. InCred Equities has advised investors to exit all aluminium names, warning of a potential 30–40% downside amid mounting headwinds.
The domestic brokerage said that aluminium's bull-case scenario is being built on the wrong framework. While investors continue to look at aluminium through the lens of primary metal where supply looks tight, InCred noted that aluminium is not a consumed commodity like crude oil or coal - it is an above-ground circular metal.
