This is an aluminum-industry blog, so of course we’re going to tout the many reasons why aluminum is a worthy investment. However, it’s moved past just our opinion – and it’s gone beyond the surge in the automotive industry. All around the world, aluminum is becoming a hot commodity. Here’s the latest news from the UK:
“It’s the most powerful rally that has been seen for months. This is occurring across the London Metal Exchange (LME) metals complex.
The breakout patterns seen with aluminum reflect the same patterns seen in lead, zinc, copper and tin. The breakout in aluminum is the most developed. Many LME metals are moving in a similar way, but aluminum is most advanced so it gives guide for other developments.”
“Aluminum stockpiles in Japan expanded 11 percent in August to the highest level in six months, trading company Marubeni Corp. (8002) said by e-mail today.
Inventories held in Yokohama, Nagoya and Osaka ports climbed to 261,000 metric tons at the end of last month from 235,100 metric tons on July 31, according to Marubeni, the largest Japanese importer of the metal.”
“The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 5.7 percent increase. This week marked the third in a row of rising prices for the metal on our aluminum price index.”
Why the global surge? It’s difficult to pinpoint one specific reason, but aluminum’s valuable properties – lightweight, strong, efficiently manufactured – have to put it at the forefront of today’s manufacturing needs.