Aluminum ETF Reportedly Set to Launch

An exchange-traded fund based on aluminum could launch as soon as next month, according to a Bloomberg report. Bloomberg reported that the CEO of United Co. Rusal, the world’s largest aluminum producer, told reporters that the ETF would launch next month, and could help support metal prices as a hedge against currency and commodity price fluctuations. There is no word on which firm will launch the ETF. In the meantime, investors interested in metals ETFs have no shortage of options, according to the ETFChannel.com Metals ETFs category. The SPDR S&P Metals and Mining ETF XME is trading lower by over 4.6% Tuesday. The DB Base Metals Fund (DBB) trades lower by over 3.6 percent while the DB Precious Metals Fund (DBP) is trading lower by nearly six tenths of a percent. Contributed by: Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.