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FinlandQ1 2025:
In the first quarter of 2025, Aluminium Ingot prices experienced a slight uptick, reaching USD 2792/MT FOB shanghai with a 0.17% increase from Q4 2024. This modest rise was primarily driven by renewed demand in the construction and automotive sectors, which typically see a boost in activity following the year-end lull. Additionally, the implementation of new tariffs on aluminium imports from certain countries added upward pressure on domestic prices, prompting buyers to secure inventories ahead of potential cost escalations. With supply chains operating smoothly and no major production disruptions, the market maintained a stable footing with a mildly positive outlook.
Q4 2024:
In Q4 2024, the global aluminum ingot market experienced a significant upward trend, driven by robust demand and constrained supply across key regions. In China, prices surged due to heightened industrial activity and a government push for infrastructure projects, compounded by reduced production stemming from energy consumption restrictions. Similarly, India saw a price increase fueled by strong domestic demand from the automotive and construction sectors, alongside rising input costs. In the UK, aluminum prices climbed amidst supply chain disruptions and currency fluctuations, which increased import costs. Meanwhile, the USA faced growing demand from the aerospace and renewable energy industries, alongside limited domestic production, which further supported the upward price momentum. This synchronized trend reflects the broader global dynamics of rising demand and constrained supply, pushing aluminum ingot prices higher across these major markets.
Q3 2024:
In Q3 2024, the global aluminum ingot market experienced a notable downtrend, driven by declining prices across major regions such as China, the UK, and the USA. In China, oversupply and muted domestic demand amidst sluggish industrial activity contributed to the price dip. Similarly, India faced reduced export orders and subdued manufacturing demand, further pressuring prices downward. In the UK and the USA, weak economic conditions, rising energy costs, and diminished construction and automotive activity weighed on aluminum demand, exacerbating the global price decline. These combined factors underscored a synchronized softening in the aluminum ingot market during this period.
Q2 2024:
In Q2 2024, the global aluminium ingot market experienced notable upward trends across key regions, driven by increased industrial demand and supply chain dynamics. In China, the market saw significant growth fueled by robust domestic manufacturing activities and government-backed infrastructure projects, further supported by tightened environmental regulations that constrained supply. India mirrored this growth with rising demand from the automotive and construction sectors, alongside policy incentives for local production. In the UK and the USA, the trends were driven by a combination of restocking efforts, increased investment in renewable energy projects, and steady recovery in manufacturing. The convergence of these regional dynamics contributed to a global price escalation for aluminium ingots during this quarter.
Q1 2024:
In Q1 2024, the global aluminum ingot market exhibited divergent trends across key regions. China’s aluminum ingot prices and production surged, driven by strong domestic demand, infrastructure projects, and expanding export activities. Conversely, India, the USA, and the UK faced declining trends in aluminum ingot prices, primarily due to subdued manufacturing activity, reduced construction demand, and increased competition from lower-cost imports. These contrasting patterns highlight China’s growing dominance in the global aluminum market while reflecting economic slowdowns and demand contractions in other major regions.
In Q1 2025, aluminium ingot prices witnessed a notable surge, rising by $3,193 per metric ton Ex-Mumbai with a 5.48% increase compared to the previous quarter. This upward momentum was primarily driven by a combination of tight global supply chains, increased demand from the automotive and construction sectors, and higher energy costs impacting production. Market participants also cited geopolitical tensions and export restrictions from key producing nations as contributing factors to the bullish trend. The consistent rise in downstream consumption and limited inventory replenishment further supported the price escalation, signaling a strong and sustained demand outlook for aluminium in the near term.
In Q4 2024, the aluminium ingot market experienced a notable price increase of $3,027 per metric ton Ex-Mumbai with a 4.28% rise compared to the previous quarter. This upward trend was primarily driven by a combination of tighter global supply, strong demand from the automotive and construction sectors, and increased energy costs impacting production. Supply disruptions in key producing regions, coupled with a gradual recovery in manufacturing activity, further supported the bullish sentiment. Additionally, market participants anticipated continued inventory drawdowns and potential policy shifts in major economies, contributing to firm buying interest and sustaining the positive momentum in aluminium prices during the quarter.
In Q3 2024, aluminium ingot prices witnessed a notable decrease of $2,903 per metric ton, Ex-Mumbai with a 2.64% decline compared to the previous quarter. This downward trend can be attributed to a combination of softening global demand, particularly from the construction and automotive sectors, and improved supply dynamics, including higher production outputs from key regions like China and the Middle East. Additionally, easing energy prices and a reduction in raw material costs helped alleviate production expenses, further influencing the market correction. Market sentiment also reflected cautious optimism amid economic uncertainties, contributing to the moderated pricing environment during the quarter.
In Q2 2024, aluminium ingot prices experienced a significant upward trend, rising by ₹2,982 per metric ton (MT), Ex-Mumbai with a 12.36% increase quarter-over-quarter. This price surge was primarily driven by a combination of factors including tightening supply in major producing regions, robust demand from the automotive and construction sectors, and rising input costs such as alumina and energy. Additionally, geopolitical uncertainties and logistical disruptions contributed to inventory drawdowns, further supporting the bullish momentum. The market sentiment remained optimistic throughout the quarter, reflecting strong consumption patterns and limited availability in both domestic and international markets.
In the first quarter of 2024, the price of aluminium ingot saw a slight decrease of $2,653 per metric ton Ex-Mumbai with reflecting a modest decline of 0.27% compared to the previous quarter. This marginal drop indicates a relatively stable market environment with limited fluctuations. The soft bearish trend was primarily driven by weaker demand from key industrial sectors such as construction and automotive, particularly in major markets like China and Europe. Stabilization in energy costs, which play a significant role in aluminium production, also helped curb any potential price increases. Overall, while the market exhibited some softness in Q1, the price movement suggests a cautious yet balanced outlook as the industry heads into the second quarter of 2024.
PriceWatch is your trusted resource for tracking global aluminium ingot price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the aluminium ingot market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
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These events underscore the aluminum ingot market’s vulnerability to global economic and geopolitical shifts, highlighting the need for adaptable strategies to navigate supply-demand challenges.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Aluminum Ingot pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
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Molecular Formula
Aluminum ingots are primary aluminum products obtained by smelting and refining raw bauxite ore. Known for their lightweight nature, corrosion resistance, and excellent conductivity, aluminum ingots are widely utilized in industries such as construction, transportation, packaging, electrical, and consumer goods. Aluminum’s malleability, strength-to-weight ratio, and recyclability make it a versatile material for manufacturing components like automotive parts, aircraft structures, electrical conductors, and packaging materials. With high thermal and electrical conductivity, aluminum ingots also play a critical role in applications demanding energy efficiency.
Packaging Type
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Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification (A7 Grade) | Specification (P1020 Grade) |
| Purity (%) | 99.70% – 99.90% | 99.50% – 99.70% |
| Silicon (Si) Content | ≤ 0.10% | ≤ 0.15% |
| Iron (Fe) Content | ≤ 0.20% | ≤ 0.25% |
| Copper (Cu) Content | ≤ 0.01% | ≤ 0.01% |
| Zinc (Zn) Content | ≤ 0.01% | ≤ 0.01% |
| Magnesium (Mg) Content | ≤ 0.02% | ≤ 0.03% |
| Density | 2.70 g/cc | 2.70 g/cc |
| Melting Point | 660°C | 660°C |
Applications
Several factors can influence the price and production of aluminum ingots, including:
Supply and Demand: The global supply and demand for aluminum are major determinants. Increased demand in industries like automotive, construction, and electronics can drive prices up. A surplus of aluminum can lead to a price drop.
Energy Costs: Aluminum production is energy-intensive, particularly in the smelting process. Therefore, fluctuations in energy prices (like electricity and natural gas) can significantly affect the cost of producing aluminum ingots.
Raw Materials: Aluminum is primarily produced from bauxite, and the availability and cost of bauxite and other raw materials like caustic soda and petroleum coke can impact the production of aluminum ingots.
Exchange Rates: Since aluminum is traded globally, the value of currencies, particularly the US dollar (in which aluminum prices are often quoted), can influence prices.
Geopolitical Factors: Political instability in key aluminum-producing regions (such as China, Russia, or the Gulf countries) can disrupt production and supply chains, causing price fluctuations.
Technological Advancements: Innovations in production methods, such as more efficient smelting technologies, can lower costs, making aluminum ingots more affordable.
Environmental Regulations: Stricter environmental regulations and carbon pricing can raise production costs, impacting aluminum prices.
Global Economic Conditions: Economic cycles, including recessions or periods of growth, can have a significant impact on industrial demand for aluminum ingots.
Feedstock prices, such as bauxite, alumina, and energy materials (like electricity and petroleum coke), directly affect aluminum ingot production costs. When the prices of these feedstocks rise, the overall cost to produce aluminum ingots increases, which can drive up their market price.
Aluminum ingot prices are influenced by inflation through higher production costs (raw materials, energy, labor) and currency depreciation. Inflation can also reduce consumer demand, affecting aluminum prices, though supply-side factors like rising energy costs may lead to price increases despite inflation.
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