What it is
A light metal that does not rust, made by refining bauxite ore into alumina and smelting it with a very large amount of electricity. It goes into vehicles, aircraft, drinks cans, window frames and power cables, and it is recycled widely because remelting needs far less energy than smelting.
How it is usually quoted
US dollars per tonne.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
London Metal Exchange (LME); also CME (COMEX) and the Shanghai Futures Exchange.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- The cost of electricity, because smelting is so power-hungry
- Demand from construction, vehicle making and packaging
- Decisions on smelter output, especially in China
- Stocks held in exchange warehouses
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
China is by far the largest producer. India, Russia, Canada and the Gulf states are also large smelters, and much of the bauxite is mined in Australia, Guinea and China.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Aluminium is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.