Aluminium price February 2024 and outlook (see chart below)
- North America:US$2.43/KG, -0.4% down
- Europe:US$2.45/KG, -0.8% down
- Northeast Asia:US$2.59/KG, -1.9% down
- Global:US$2.18/KG, 1.4% up
The chart below summarizes Aluminum price trend per region, as well as the outlook. It takes a moment to load.
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Aluminum price index
This post is a summary of the Aluminum/Aluminium price developments. The price developments of Aluminum are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Aluminum price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.
The outlook for Aluminum prices, on the second tab, is generated from different inputs including:
- Very recent price developments of immediate cost drivers of Aluminum prices
- Recent price developments of underlying feedstocks which drive the price of Aluminum
- Market futures for both cost drives and feedstocks of Aluminum prices
- Adjustment of current supply/demand imbalances in the Aluminum market
- Longer term trends in likely demand conditions
Further information on the Aluminium price index
Here is some further information
What is Aluminum
Aluminum is a chemical element with the symbol Al and atomic number 13. It is a silvery-white, soft, nonmagnetic metal that is highly reactive. Aluminum is the third most abundant element in the earth’s crust, comprising about 8% of the crust by weight. It is found in a variety of minerals, such as bauxite, and is obtained by refining bauxite ore through the process of electrolysis.
Aluminum has a number of useful properties, including low density, high strength-to-weight ratio, high electrical and thermal conductivity, and corrosion resistance. It is used in a wide range of applications, including in the construction of buildings and vehicles, in the manufacturing of packaging materials, and in the production of electrical power transmission lines.
How is Aluminum produced
Aluminum is produced from bauxite, which is a type of rock that is rich in aluminum oxide. The production of aluminum involves several steps, including mining bauxite, refining it to remove impurities, and then electrolyzing it to extract the aluminum metal.
The first step in the production of aluminum is the mining of bauxite ore. Bauxite is typically found near the surface of the earth and is usually strip-mined. Once the bauxite has been mined, it is transported to a refinery where it is crushed and refined to remove impurities such as silica, iron oxide, and titanium dioxide.
The next step in the production process is to convert the refined bauxite into aluminum oxide, which is also known as alumina. This is done through a process called the Bayer process, which involves dissolving the alumina in a solution of sodium hydroxide and then filtering it to remove impurities.
Finally, the aluminum oxide is electrolyzed to extract the aluminum metal. This is done in a large electrolytic cell called a Hall-Héroult cell. The aluminum oxide is dissolved in a molten electrolyte and an electric current is passed through the solution. The aluminum ions in the solution are attracted to the negative electrode, or cathode, and are reduced to aluminum metal, which is then collected at the cathode.
What is Aluminum used for
Aluminum is a lightweight metal with a silver-gray appearance and is used in a wide variety of applications. Some of the most common uses of aluminum include:
Aluminum is used to make automobiles, airplanes, and trains because it is strong yet lightweight, making it fuel efficient.
Aluminum is used in the construction industry for window frames, doors, siding, and roofing. It is also used to make structural components for buildings and bridges.
Aluminum is used to make cans for beverages, food, and other products because it is durable, non-toxic, and easy to recycle.
Aluminum is used to make power lines and cables because it is a good conductor of electricity.
Aluminum is used to make a wide variety of consumer products, including pots and pans, bicycles, sporting goods, and appliances.
Aluminum is also used in the production of foil, cooking utensils, and electrical appliances, as well as in the chemical, aerospace, and defense industries.
- Wikipedia for general, history, production and usage information
- PubChem for chemistry and property information
Aluminum market size information
The global aluminum market is vast and highly dynamic, with demand for the metal driven by a wide range of factors including economic growth, infrastructure development, and consumer trends. According to data from the International Aluminum Institute, global primary aluminum production reached 63.4 million metric tons in 2020, up from 62.6 million metric tons in 2019.
China is the largest producer and consumer of aluminum in the world, accounting for over half of global production and consumption. Other major producers include Russia, Canada, and the United States. The market for aluminum is highly competitive, with a large number of producers operating globally and a significant amount of trade in the metal.
The market for aluminum is also impacted by various factors such as supply and demand dynamics, pricing trends, and regulatory policies. In recent years, the market has been influenced by factors such as the global economic downturn, trade tensions, and the impact of the COVID-19 pandemic. Despite these challenges, the demand for aluminum is expected to remain strong in the coming years, driven by its versatility and increasing use in a variety of industries.
According to https://oec.world/ :
Raw Aluminium are the world’s 67th most traded product.