U.S. market price of aluminum ingots 2011-2023

In 2023, the average market spot price of an aluminum ingot was estimated at 1.3 U.S. dollars per pound. Throughout the indicated period, this was by far the highest spot price for aluminum ingots. The fluctuations in aluminum prices can have far-reaching effects on the economy, influencing costs for products ranging from beverage cans to automotive parts. 

Production of aluminum  

The primary production of aluminum in the United States has experienced fluctuations recently, with an estimated production volume of 750,000 metric tons in 2023. The primary production process involves the melting of alumina into pure aluminum. While the United States is one of the top 10 producers of primary aluminum, China is leading the way in terms of aluminum smelter production, with a production volume of 4.1 million metric tons in 2023. 

 Price comparison with other base metals

The pricing of materials is influenced by various elements, such as manufacturing techniques, availability, and demand in diverse industries. In 2023, of the various base metals, tin was priced approximately at 12 U.S. dollars per pound and was the highest priced base metal at that time. In contrast, aluminum had the fourth highest price that year.