Live Aluminum Prices Today

In 2022, the U.S. Government classified aluminum as a critical energy metal due to its significant role in various sectors, including transportation, construction, and electrical applications. Known for being lightweight, aluminum has excellent electrical conductivity and strong resistance to corrosion. These qualities, combined with its considerable strength, make aluminum essential in industries that focus on energy efficiency, durability, and performance.

Aluminum Price Chart

Aluminum is primarily traded on the London Metal Exchange (LME), the world’s largest and most powerful market for electric metals like copper and cobalt. It sets the benchmark prices for aluminum through its futures and options contracts. The Shanghai Futures Exchange (SHFE) is another significant platform, especially in China which is the world’s largest producer and consumer of aluminum.

Aluminum Price Chart (USD/T)

Aluminum is a key industrial metal used in everything from beverage cans to smartphones. Its strength, light weight, corrosion resistance, and recyclability make it popular in alloys. It sees the most use in the auto and transportation industry, followed by construction and in packaging.

China is both the world’s largest producer as well as consumer of aluminum. Aluminum is heavily traded on the LME, where it accounts for over 40% of total futures trading volume. The price of aluminum is affected by various factors:

• Automotive Industry: Aluminum is widely used in cars and electric vehicles due to its lightweight properties, which improve energy efficiency. However, it is not a key component in the lithium-ion batteries; instead, materials like nickel, cobalt, and lithium are used. The automotive sector, including electric vehicles, remains a significant driver of aluminum demand.
• Construction: Aluminum is commonly used in windows, doors, roofing, bridges, and various infrastructure projects due to its corrosion resistance, structural strength, and ease of fabrication.
• Production and Extraction: Aluminum production involves bauxite mining, refining it into alumina, and then smelting it into aluminum. China is the world’s largest producer of aluminum, followed by India and Russia.
• Environmental and Regulatory Policies: Governmental regulations that affect mining and safeguard the environment can greatly influence aluminum production costs and supply.