Aluminium is available in a number of different deliverable grades depending on the task for which it is required. Aluminium that is traded as a commodity generally must meet certain criteria, namely that it is of at least 99.7% purity, and that it has within its make-up no more than 0.2% iron and no more than 0.1% silicon. It is traded incommodity exchanges under the commodity code of AL.
Aluminium has several attractive qualities as a commodity. Lighter than steel at only one third of the weight, it still retains enough core strength to be of use in a number of applications. Its position in industry is secured by its ability to conduct heat and electricity as well as copper, its resistance to corrosion (making it suitable for outside use), and its non-toxic make-up. It is also non-magnetic, which can be useful in the industrial sector. Another special feature of aluminium is that it is recyclable, endowing it with significant green credentials.
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