"This rosy outlook has buoyed materials ETFs such as iShares Dow Jones Basic Materials Index Fund (IYM), Vanguard Materials ETF (VAW), and Rydex Equal Weight Materials ETF (RTM), all of which are up more than 1% in early trading today. The Alcoa news is also having a ripple effect on the rest of the sector – all of the ETFs in our Industrials ETFdb Category are positive today," Dutram Reports.

Are you bullish on Aluminum? See our other stories regarding the new Aluminum ETF coming soon to the market.

Here is a detailed look at the ETF's mentioned:

The investment (IYM) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Basic Materials index. The fund generally invests at least 90% assets in securities of the underlying index and depositary receipts representing securities of the underlying index. It may invest the remainder of its assets in securities not included in its underlying Index but which BGFA believes will help the fund track its underlying index, and in futures contracts, options on futures contracts, options and swaps as well as cash and cash equivalents. The fund is nondiversified.

The investment (VAW) seeks to track the performance of a benchmark index that measures the investment return of materials stocks. The fund employs a passive management investment approach designed to track the performance of the MSCI U.S. Investable Market Materials index. This index consists of all capitalization of stocks within the materials sector. It is nondiversified.

The investment (RTM) seeks to replicate, before fees and expenses, the performance of the S&P Equal Weight Materials Index. The fund uses a passive management strategy to track the performance of the underlying index. The Advisor expects that, over time, the correlation between the Fund's performance and that of the Underlying Index, before fees and expenses, may be 95% or better. The fund is nondiversified.