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Global X launches first aluminium ETF


New York-based ETF provider Global X Funds has launched the Global X Aluminum ETF, the first exchange traded fund with a global focus on aluminium.

The Global X Aluminum ETF tracks the Solactive Global Aluminum Index, which is designed to track the performance of the largest and most liquid companies globally active in some aspect of the aluminium industry. As of December 13, 2010, the three largest components of the index were Rio Tinto plc, Alcoa, Inc. and Norsk Hydro ASA.
“We are pleased to offer the Aluminum ETF, which follows in the footsteps of our other highly successful industrial metal ETF, the Global X Copper Miners ETF (Ticker: COPX),” says Bruno del Ama, CEO of Global X Funds. “Aluminum has seen tremendous price increases as a result of increased global demand, especially from China and India. Its invaluable properties to various industries make it essential for future economic growth.”

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