How Did Aluminum Once Cost More Than Gold? Gizmodo Explains It All

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Aluminum is literally one of the most common elements on Earth. So how did it come to be that aluminum once cost more than gold?

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Gizmodo has published a short history of our favorite lightweight metal and how it went from seriously costing more than gold and diamonds to being a consistent if unspectactular commodity metals performer. Napoloen III even makes an appearance.

At $1,784 per metric ton, the 3-month price of aluminum moved up 1.2 percent on Tuesday, May 13, making it the day’s biggest mover on the LME. On the LME, the cash price of primary aluminum inched up 1.2 percent to $1,739 per metric ton. The cash price of primary Indian aluminum gained 0.9 percent to finish at INR 106.20 ($1.78) per kilogram.

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Chinese aluminum closed mixed on Tuesday. At CNY 13,080 ($2,097), the Chinese aluminum cash price finished the market day up 0.3 percent per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 12,250 ($1,964) per metric ton for the fifth day in a row. The price of Chinese aluminum billet held steady at CNY 13,590 ($2,179) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,200 ($2,276) per metric ton.

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