World - Aluminum and Alloys - Market Analysis, Forecast, Size, Trends And Insights
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View PricingGoing Rate for Aluminum
Aluminum is one of the most abundant metals on Earth, and it is widely utilized in various industries, including construction, transportation, packaging, and electronics. Thus, its price is subject to fluctuation in response to market demand, political and economic changes, and supply chain disruptions. Nonetheless, there are certain benchmark prices for aluminum that serve as a reference point for traders, manufacturers, and investors.
The London Metal Exchange (LME) Price
The LME is the most prominent global marketplace for trading base metals, including aluminum. It is a physical exchange where buyers and sellers can trade standardized contracts for cash settlement or delivery of aluminum at a future date. The LME aluminum price is based on the average of bids and offers from market participants throughout the trading day. It is expressed in US dollars per metric ton and quoted for standard-grade aluminum ingots with a minimum purity of 99.7%.
As of August 2021, the LME aluminum price is around USD 2,500-2,600 per metric ton, which is close to its 10-year high due to a rebound in industrial demand and supply constraints caused by the COVID-19 pandemic. However, the LME aluminum price can vary depending on the location, quality, and delivery terms specified by the buyer and seller. For instance, the price may differ for aluminum ingots produced in different countries, such as China, Russia, or the US, or for aluminum alloys with specific compositions and specifications.
The Aluminum Association (AA) Price
The AA is a trade association that represents aluminum producers and manufacturers in North America. It publishes a monthly report called the Aluminum Statistical Review that includes the average price of aluminum ingots and scrap in the US and Canada. The prices are reported in cents per pound and reflect the transactions between suppliers and consumers in each region. The AA price is not as widely used as the LME price but can be relevant for companies that rely on domestic suppliers or sell to regional markets.
As of July 2021, the average price of aluminum ingots in the US was 121.7 cents per pound, while the average price of aluminum scrap was 77.7 cents per pound. The prices have been increasing steadily since the second half of 2020, following the recovery of the automotive and construction sectors.
The Commodity Exchange (COMEX) Price
The COMEX is a division of the New York Mercantile Exchange that specializes in trading metals futures and options. It offers contracts for aluminum that are settled in cash and delivery, with a minimum purity of 99.7%. The COMEX aluminum price is based on the prices of LME aluminum futures and options, adjusted for transportation costs and regional premiums. It is quoted in US dollars per pound, which is a different unit from the LME price.
As of August 2021, the COMEX aluminum price is around USD 1.2-1.3 per pound, which is equivalent to USD 2,645-2,865 per metric ton. The COMEX price may have some deviations from the LME price due to market speculations, hedging activities, and other factors that affect the demand and supply of aluminum derivatives.
The Asian Benchmark Price
As Asia is one of the largest producers and consumers of aluminum, there is also a benchmark price for aluminum in this region. The Platts Asia Aluminum Premium (AAP) assesses the value of aluminum ingots with a minimum purity of 99.7% that are delivered to ports in Japan, South Korea, or Taiwan. The AAP reflects the premiums that buyers are willing to pay over the LME aluminum price to secure physical supplies from the spot or term market. It is quoted in US dollars per metric ton and updated daily.
As of August 2021, the AAP is around USD 145-155 per metric ton, which is a significant increase from its level in early 2020. The AAP can be influenced by factors such as the availability of imported aluminum, the strength of downstream industries, and the domestic policies of Asian countries.
Conclusion
The going rate for aluminum depends on various factors, including the geographical location, the quality and form of aluminum, the delivery terms, and the market trends. The LME price is the most commonly used benchmark for aluminum, followed by the AA price, the COMEX price, and the AAP. Companies that deal with aluminum should monitor these benchmark prices and other relevant indicators to make informed decisions about pricing, procurement, and inventory management.
This report provides an in-depth analysis of the global aluminum market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24421130 - Unwrought non-alloy aluminium (excluding powders and flakes)
- Prodcom 24421154 - Unwrought aluminium alloys (excluding aluminium powders and flakes)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global aluminum market.
This report provides an in-depth analysis of the global aluminium market.
This report provides an in-depth analysis of the global unwrought aluminium alloys market.
This report provides an in-depth analysis of the global aluminium and titanium market.
Discover the top import markets for aluminum worldwide and their import values in 2022. Learn about the leading countries like the United States, Netherlands, Germany, Japan, China, and more. Find key statistics and insights on the global aluminum market.
Throughout this year, global aluminum prices continuously grew and in October 2021 gained 62% compared to October 2020. China's output has decreased due to restrictions on energy usage and halted production at a 300K-ton capacity factory in Yunnan province. As a consequence, the average yearly price in 2022 is projected to rise by 6% y-o-y. Despite rising prices, the U.S., the world´s largest aluminum importer, expanded its purchases by 4.5% against 2020.
Prices for aluminum this year will remain low thanks to the consistent growth in global production of the metal overcoming obstacles caused by the pandemic. In the mid-term, demand for aluminum in the construction sector and car manufacturing is forecast to steadily rise. The rapid development of alternative energy sources will also drive the market up because aluminum is used in the production of solar batteries, wind generators and other components of energy facilities. In China, the launch of quotas on greenhouse gas emissions could lead to higher prices for aluminum as production for the metal in the country leaves a heavy carbon footprint.
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