Summary Box: Metals gain after Alcoa says it sees demand for aluminum increasing
By APTuesday, July 13, 2010
Summary Box: Commodities rally on upbeat earnings
BROAD RALLY: Most commodity prices rose Tuesday after Alcoa and CSX reported upbeat earnings. The results provided positive signs about the economy, especially a forecast from Alcoa that global aluminum demand is expected to keep growing.
ALUMINUM BOOST: Metals like palladium, platinum and silver got a boost from Alcoa’s outlook for aluminum demand. Those metals are used to manufacture goods where aluminum is also used, like cars and electronics.
PALLADIUM LEADS: Palladium was the biggest gainer among metals. It jumped nearly 3 percent.
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