Global X Funds will launch a new product, the Global X Aluminum ETF, Morningstar reports. The new fund will be the first-ever pure-play ETF focused on companies primarily involved in the aluminum industry.

The ETF will track a float-adjusted, cap-weighted index, which comprises 20 companies, 75% of which are based overseas. Global X currently has a food ETF, a shipping ETF, a fishing ETF, and a waste-management ETF in registration, which are yet to be launched.

Click here for the story from Morningstar.