An Update On The PICK ETF With U.S. Tariffs On Steel And Aluminum

Summary

• The PICK ETF is favored for its diversified exposure to base metals, despite short-term bearish trends, with potential for gains as the sector recovers.
• Tariffs and sanctions, particularly from the Trump administration, could distort metal prices, but Chinese demand remains the critical factor for price direction.
• PICK ETF has remained in a trading range, with technical support at $34.60 and $31.86, and a scale-down approach is recommended for adding positions.
• China's economic policies and copper's recent price rally suggest increasing demand for base metals, benefiting mining profits and PICK ETF's performance.
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Alfio Manciagli

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The author always has positions in commodities markets in futures, options, ETF/ETN products, and commodity equities. These long and short positions tend to change on an intraday basis.