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ALUMINIUM
Aluminium is the most common element contained in the Earth’s crust, but it is never found naturally in its metallic form. Rather, Aluminium is a compound of other elements. The global production is around 60 million metric tonnes of which 50% is produced by China followed by Russia, Canada and India. It ranks second only to Steel in terms of consumption and trading and is widely traded across exchanges across the globe.
The Symbol for Aluminium is “Al” and is quoted against the USD and the INR. The metal derives its name from alumen, the latin name for alum.
Factors like industrial growth, global financial crisis, recession, and inflation would affect the price of Aluminium together with Geo-political events and government policies would also determine its value.
Eforex India quotes prices of Aluminium as per the London Metal Exchange (LME) against the USD and can be used for benchmarking and hedging purposes. We also give API of the prices of all Metals which can be integrated to your software for pricing and valuation. Exporters, importers and traders needs to manage their hedging by proper Risk management techniques and value it Marked to Market (MTM) on a daily basis to manage their portfolio.