AlgerIt is a chemical element that has a lower density as compare to other metals. It is the world’s most abundant metal. Bayer Process has been done to get aluminum. When it comes to resemblance, silver and metal are more alike in color, texture and its ability in reflection of light. It has ranked on 12th number as most common element.
We can get it from igneous rocks. It has a soft texture. It can conduct heat and electricity effectively. It has the ability to get dissolve in hydrochloric acid. We can mold it easily because of its light weight. Almost every product contains aluminum we use in our daily life.
What Are The Uses?
We can use Aluminum in thousands of products that includes kitchen utensils, foils, cans, airplane parts etc. It is used by industries and households in day-to-day activities. Aluminum is an element that can be used in every other product whether it is the packaging material, architectural designs, electrical appliances, transportation, consumer goods and what not.
Prices for Aluminum:
As the inflation is increasing day by day, check aluminium price per kg and its related products are also increasing. Aluminum is available in different shape and sizes so the prices may vary. The most traded industrial metal is aluminum and the extraction of this metal requires the use of heavy resources and energy.
So, the price fluctuates on daily basis as it correlates with other elements as well. The demand and supply of any product also plays a crucial role when it comes to price settings. The current price for Aluminum is 2365.50 USD/Tonne.
The Aluminum Corporation of China is the biggest producers of aluminum. One thing should be noted here that there are rapid fluctuations in the price of aluminum in daily basis. The data has showed that the prices decreased from 2367.50 as the market for its trading goes down by 2 USD.
Demand for Aluminum:
- Around 29 million tons of aluminium demanded worldwide annually.
- However, according to the report, new aluminium is about 22 million tons whereas, the half 7 million tons is the reclaimed aluminum scrap.
- The use of recycled aluminum is environmentally and economically compelling.
Marketplace for Aluminum:
London Metal Exchange is the most important marketplace when it comes to trading and dealing for Aluminum. The prices are set by calculating the purity of metal. So, if the metal achieves the set criteria, then the price would be high and vice versa.
Conclusion:
Aluminum is the most used metal in the Universe as it is present in every single product in different forms. We have aluminum in our appliances, transportation, consumer goods, households, building materials, electrical appliances. Aluminum is a strong metal that has a light weight. The prices of aluminum fluctuate in international market because of other factors including the usage of resources in its extraction. The demand is increasing on daily basis as the advancements and modern world is undergoing with tremendous changes and developments.