The 10 most expensive metals have been the subject of an intense bidding war between two Australian companies over what they call “the gold mine”.
The price of gold in Australia has soared by more than 400 per cent in the past five years.
But the price of aluminium ore is falling too.
In Australia, the most valuable ore is the aluminium ore portias that is used in making aluminium-alloyed products like aluminium-cobalt and aluminium-aluminium.
There are about 8,000 aluminium ore ports in the country, with a global market of about $US80 billion.
Australia has some of the most expensive copper ore on the market, but the world’s second-most expensive copper is found in Indonesia.
The world’s most expensive aluminium ore ore is found off the coast of India.
The price for copper is one of the world the most volatile commodities, but it’s still the most abundant in the world, with deposits up to 1.5 million tonnes.
It’s also one of Australia’s most valuable commodities, with prices reaching record highs this year.
The country’s biggest aluminium ore mining company, MetalCo, said it had sold up to $US6.3 billion of aluminium-based products in the three months to July.
It said it was on track to post a profit for the first time in four years.
The company said the boom in the aluminium market has resulted in higher volumes of metal-related products and increased margins on products like pipes, pipes fittings, piping accessories, and electrical equipment.
But Mr Mould said there were some concerns over the prospect of higher commodity prices for aluminium.
“We’re not making any predictions on commodity prices, but if the commodity price stays low for a while, then aluminium prices could go up in the future,” he said.
He said metal-based equipment had become an increasingly important part of the Australian economy, but there were concerns about the price.
“I think that aluminium-related equipment has become a commodity that is becoming increasingly more important to the global aluminium market,” Mr Mold said.
“There are a lot of things that we could potentially do to increase the aluminium-associated products that are being used.”
Mr Moldsons comments follow comments made earlier this year by a leading aluminium analyst.
A senior metals analyst at the US-based metal-industry body the American Institute of Mining said the price rise was a result of increasing demand from emerging economies.
The industry has been struggling to keep up with rising demand for its metal-bearing products, such as aluminium, because of rising oil prices and the low cost of iron ore.
The Australian Government is also under pressure to help the aluminium industry cope with the higher prices.
But Dr Mould warned it was too early to predict the impact of the price surge.