ALUM....Global X Aluminum (NYSEArca: ALUM) is one of the newest offerings, though it’s not physically-backed; this fund gives equity exposure to a global list of aluminum producers. It’s the only pure play aluminum ETF on the market right now. [First Aluminum ETF Makes Its Debut.]
Global X Aluminum ETF (NYSE: ALUM), which tracks aluminum producers such as Alcoa (NYSE: AA), Rio Tinto (NYSE: RTP) and Aluminum Corp. of China (NYSE: ACH).
Rusal, the world’s largest aluminum producer.
Rusal is in discussion to supply the metal to banks for such a fund, reports TheStreet
The Citigroup analyst suggests that such a fund could impact prices by as much as 24%, reports Commodity Surge. That’s the amount global consumers use in about two weeks. [A Total Guide to Investing in Metals.]
Last year, Citigroup said the creation of an ETF backed by physical aluminum could lead to a price spike of up to $500 per metric ton. At the time, the bank said physically-backed aluminum ETFs could affect prices by as much as 24%.
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