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Metals investors globally were cheered this week by good news from Aluminum Corp. of China (A.K.A. Chalco).

The aluminum giant swung back into profitability for the first time in a year during the first quarter. Chalco enjoyed net income of 627 million yuan ($92 million) for the past quarter, as compared with a loss of 1.9 billion yuan ($280 million) in Q1 2009.

Reports this morning that Russian aluminum giant Rusal is looking at launching an exchange-traded fund (ETF) back by physical aluminum.

Rusal said the fund could initially be backed with up to 1 million tonnes of aluminum.

This seems to be the way of the world. Investors are increasingly becoming the go-to buyer for a host of metals.

A Wave of Steel

Posted by Oilprice.com on February 22nd, 2010

China is the key to the metals markets today. And there are some important signals about this market registering in the last few weeks.

This might be the year's most important news. Which got almost no press globally.

Something strange happened in Japan in December. Shipments of aluminum from Mozambique and Brazil showed up in the northwestern ports of Fushiki and Fukui.

Chris Mayer says power-grid builder ABB (NYSE:ABB) and road-building equipment maker Astec Industries (NASDAQ:ASTE) are stocks to watch…

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