Aluminium Alloy Ingot Price Chart, Historical and Forecast Analysis | Procurement Resource

During the first half of 2023, the Aluminum Alloy Ingot Price Index experienced varied trends across different regions. In the Asia-Pacific region, Q1 maintained price stability due to balanced inventories and demand, but Q2 saw challenges arising from declining production rates, increased inventories, and lower prices for aluminum scrap. Meanwhile, in Europe, Q1 saw stabilization driven by restrained supply and post-holiday demand from Asia, while Q2 witnessed price surges fueled by limited supply and strong demand from downstream industries, albeit dampened by crises in the US banking sector and reduced consumption in North America. In North America, Q1 prices were supported by sanctions on Russian imports, but Q2 faced difficulties including fluctuations in the labor market, weak procurement, and financial crises, which hindered upward trends in prices.

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Definition

Aluminium alloy ingots possess a combination of attributes that make them versatile in various applications. Their lightweight nature, coupled with good strength-to-weight ratios, renders them valuable in industries like automotive and aerospace. These ingots offer excellent corrosion resistance, making them suitable for outdoor and marine applications. Their malleability facilitates intricate shaping, enabling intricate designs in industries like construction and consumer goods. Aluminium alloy ingots exhibit effective thermal conductivity, benefiting heat exchange applications. With a range of alloy compositions available, these ingots can be tailored to specific mechanical, thermal, and corrosion requirements.

Key Details About the Aluminium Alloy Ingot Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Aluminium Alloy Ingot in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.

The Aluminium Alloy Ingot Price chart, including India Aluminium Alloy Ingot price, USA Aluminium Alloy Ingot price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting the Aluminium Alloy Ingot Price Trend:

Aluminum alloy ingots are widely utilized across a spectrum of industries owing to their versatile properties. In the automotive sector, these ingots are indispensable for manufacturing lightweight components that enhance both fuel efficiency and vehicle performance. In aerospace, their unique blend of strength and low weight is paramount for crafting aircraft parts. Within the construction industry, their resistance to corrosion makes them ideal for applications such as roofing, windows, and structural elements. Moreover, sectors like consumer electronics, packaging, and machinery rely on aluminum alloy ingots for their attributes like malleability, electrical conductivity, and efficient heat dissipation. Tailored alloy compositions further ensure that these ingots meet specific requirements, underscoring their pivotal role in shaping contemporary industrial applications.

Key Players:

  • Alcoa Inc.
  • Rio Tinto Group
  • Aluminium Corporation of China Limited
  • RUSAL Plc
  • Norsk Hydro ASA

News and recent development:

The price of aluminum increased by 0.74% to 210.1 as domestic societal inventories of aluminum ingots rapidly decreased and downstream consumption increased. In terms of the fundamentals, a minor improvement on the supply side has resulted from the restart of operations at aluminum smelters in Sichuan, Guizhou, and other locations. As of March 23, the average inventories of aluminum ingots in China’s eight main markets totaled 1.13 million mt, down 47,000 mt from March 20 and 85,000 mt from the previous week.

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