Aluminum (chemical symbol - AI) is the third most abundant element in the earth's crust. It exists in very stable combination with other materials particularly silicates and oxides.
It is resistant to common atmospheric gases and a wide range of liquids. Hence, aluminium is known for its durability and high resale value.
Aluminum is a unique metal; light weight, strong, durable, flexible, and impermeable, it does not rust and is 100% recyclable.
Demand and Supply Scenario
In 2010, global primary aluminum production was 40.795 million MT, up from 36.974 million MT in 2009. Global primary aluminum consumption rose to 40.218 million MT in 2010, compared with 35.073 million MT in 2009.
The global aluminum market was in surplus by 577,000 MT in 2010, though down from 1.901 million MT in 2009.
World primary aluminum production increased in 2010 compared to the production in 2009, mainly as a result of starting new smelters and restarting smelters that had been shut down in 2008 and early 2009.
Major aluminum exporting countries are Germany I Russia and Canada, while major aluminum importing countries are USA, Germany and China.
Factors Influencing the Market
Aluminum prices in India are fixed on the basis of the rates that rule on the international spot market, and Rupee and US Dollar exchange rates.
Economic events such as national industrial growth, global financial crisis, recession, and inflation affect metal prices.
Commodity-specific events such as the construction of new production facilities or processes, new uses or the discontinuance of historical uses, unexpected mine or plant closures (natural disaster, supply disruption, accident, strike, and so forth), or industry restructuring, all affect metal prices.
Governments set trade policy (implementation or suspension of taxes, penalties, and quotas) that affect supply by regulating (restricting or encouraging) material flow.
Geopolitical events involving governments or economic paradigms and armed conflict can cause major changes.
There is also a national economic growth factor. Societies, as they develop, demand metals in a way that depends on their current economic position.
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