Miles

I keep a public notebook on aluminum — the metal, not the meme. Weekly: one cost-curve post, one inventory/spread check,No calls. No hype. Just tonnage.

Seven names, all down between 42% and 81%. Here's what a return to the old high is worth from here. $CIFR $6.57 → $35 (+433%) $NBIS $129 → $380 (+195%) $ZETA $31 → $88 (+184%) $BE $173 → $480 (+177%) $CRWV $46 → $98 (+113%) $VST $124 → $260 (+110%) $NVDA $186 → $320 (+72%) Those numbers aren't forecasts. They're the prices each one already traded at — before the business was fine and the tape wasn't. The money in this cycle gets made by buying charts that look like these. Nobody made it buying the top. If your horizon is measured in years instead of weeks, this is one of those weeks you'll wish you'd acted in. Not advice. My numbers.

LME aluminium cash $3,160/t. Stocks down. Cancelled warrants +4.5% in a session. Cancelled warrants are metal queued to leave, not metal consumed. The visible number has further to fall. Watch what's leaving, not what's there.

Next week is one chain, → financing → demand → inflation. Tue CPI: how rates trade. Tue 10Y auction: do yields hold. CoreWeave: who funds the compute. Thu NBIS: cash flow, not bookings. Thu 30Y + CSCO + AMAT: real demand. Fri PPI: is inflation easing.

LME–SHFE is a tax-and-freight calculation, not a supply-demand one. LME cash + regional premium + freight + duty + VAT, at spot FX. Net it out: an arbitrage window. Leave it in: a tax table.

God’s got me🙏🏼🙏🏼

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