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Aluminum is light weight, strong , resistant to corrosion. Not surprisingly, it has become the second most widely used metal, next to steel.

As we move on to the New Year, 2022, with higher hopes and new prospects of market for aluminium, we recount all that happened in the global aluminium industry that has influenced the global aluminium market. All the facts mentioned here are sum up taken from different credible sources. Like any other industry, aluminium industry was affected by the Covid-19 pandemic. The depressing momentum picked speed from the second half of 2021. The easing pandemic situation resulted in increased demand for aluminium related products in the electronics, automobiles, packaging industries, etc. The International Aluminium Institute reports the world primary aluminium production at 61.792 million tonnes during the period of January-November 2021 compared to 59.629 million tonnes a year before, noting an increase of about of 3.63 per cent

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Common Uses of Aluminium

Aluminium is the second-most used metal after steel and the most abundant metal naturally found on the earth. Corrosion resistance, high strength, high malleability, and low-density properties are factor that makes it top metal of choice for manufacturing industry. It is mostly used in the form of an alloy, though the aluminium content may be as high as 99%. Being a non-toxic metal, it has been used widely for packaging of edible items. The below-mentioned physical properties of aluminium make it one of the best choices among all metals.

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Soaring Aluminium Prices

Decline in use of aluminium in the power, construction and packaging industries has been noted in Europe due to rise in price of aluminium for consumer. The new spike in price of aluminium is reciprocal to soaring energy costs and production cuts. According to a report published by Reuters on January 5, 2022, “Benchmark aluminium on the London Metal Exchange was up 2.3% at $2,905 a tonne at 1705 GMT, having earlier touched $2,938.5, its highest since Oct 25 and a rise of more than 10% since Nov 5.”

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