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NEW YORK ( TheStreet) -- Give us just a glint of hope that China may be recovering and the markets will take up every stock that's even remotely related, Jim Cramer said on "Mad Money" Tuesday. He spoke on that country's softer-than-expected inflation numbers as well as a positive outlook from Alcoa (AA).
Cramer said that for weeks now the markets have been unable to rally the machinery and materials stocks, as they depend on a strong China for growth. But thanks to some softer-than-expected inflation numbers, these stocks came roaring back to life on the hopes that China may have finally tamed its inflation beast. If that happens, said Cramer, then all will be forgiven in the market's eyes.
Then there's aluminum maker Alcoa, a company that provides one of the best outlooks on the global economy. Cramer said that Alcoa was also positive on China, saying the country is seeing strong demand for cars and trucks, as well as for commercial construction and aircraft. China also used three billion more aluminum cans.
That was enough to send the
iPath Dow Jones Copper ETF
(JJC) ETF higher, and should be great news for
(VALE), a stock Cramer owns for his charitable trust,