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Aluminum Alloy Ingot Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A22414
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Aluminum Alloy Ingot Prices December 2023
| Product | Category | Region | Price |
|---|---|---|---|
| Aluminum Alloy Ingot | Metal & Metalloids | USA | 3674 USD/MT (A383) |
| Aluminum Alloy Ingot | Metal & Metalloids | Japan | 2450 USD/MT (ADC12) |
| Aluminum Alloy Ingot | Metal & Metalloids | Germany | 3184 USD/MT (A380) |
In the fourth quarter of 2023, the price percentage in the USA showed a positive correlation with a slight increase. Compared to the previous quarter, there was an increase. There were no recorded plant shutdowns during the period. The final Q4 2023 Aluminum Alloy Ingot price was 3674 USD/MT.
The price trend for Aluminum Alloy Ingot in Japan for Q4 2023 reached 2450 USD/MT in December. There was a rise in prices during the most recent quarter, which was higher than the previous quarter and significantly higher than the same quarter the previous year. Japan's prices were on an upward trend due to various factors such as growing demand, higher energy expenses, and a reduction in local supply.
The German market saw positive shifts in pricing due to balanced demand and supply. There was ample supply, and optimism prevailed, thanks to potential interest rate increases by the European Central Bank. The Aluminum Alloy Ingot price for the last quarter was 3184 USD/MT.
Aluminum Alloy Ingot Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Aluminum Alloy Ingot Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of aluminum alloy ingot pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of aluminum alloy ingot at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of aluminum alloy ingot price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing aluminum alloy ingot price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Aluminum Alloy Ingot Market Analysis
The global aluminum alloy ingot market size reached 110 thousand tons in 2023. By 2032, IMARC Group expects the market to reach 142.5 thousand tons, at a projected CAGR of 3.00% during 2023-2032.
- The global aluminum alloy ingot market is primarily driven by the rapid growth of the automotive industry. Aluminum alloy ingots possess high strength, they are lightweight in nature, and have high corrosion resistance. Aluminum alloy ingots contribute to enhancing fuel efficiency and reducing emissions in vehicles. For instance, Vedanta Aluminum is India’s largest producer of aluminum. It highlighted the importance of green aluminum in the automotive industry at a national webinar held by Automotive Component Manufacturers Association of India (ACMA). The webinar further stated that the Indian automotive industry is expected to become the third largest market across the world by 2030 mainly driven by electric vehicles (EVs), heavy vehicles and passenger vehicles with an increase in the demand for the aluminum in the automotive sector.
- The global aluminum alloy ingot market is further driven by the increase in the product demand in the construction industry all across the world. Aluminum is highly durable and highly resistant to corrosion which makes it a preferred material for various buildings and construction applications. The building and construction market for aluminum has shown significant growth between 2010 to 2020, with aluminum being recognized as a sustainable material because of its recyclability and durability. 60% of aluminum that used in modern buildings, such as Empire State Building is recycled.
- Moreover, the global aluminum alloy ingot market is driven by the increasing demand of aluminum alloy ingot in construction industry across the world. Aluminum is 100% recyclable without loss of its natural qualities, which makes it highly appealing in various sectors aiming for greener solutions. The aluminum loop is a sustainable cross-trade solution which involves collecting and recycling aluminum from various sources with Stena Recycling collecting and sorting over 100,000 tons of aluminum annually saving over 1 million tons of CO2 emissions.
- Furthermore, the increase in investments in infrastructure and favorable government policies promoting the use of lightweight materials have positively affected the aluminum alloy ingot market. For instance, according to the Inflation Reduction Act and the Bipartisan Infrastructure Law infrastructure investments have increased significantly with the Aluminum Association reporting over $6 billion in capital spending on aluminum projects in the United States over the last three years. These investments and initiatives in the aluminum alloy ingot market are expected to fuel further growth in the market in line with the rising global trend towards sustainability and recycling.
Aluminum Alloy Ingot News
The report covers the latest developments, updates, and trends impacting the global aluminum alloy ingot market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the aluminum alloy ingot price trend.
Latest developments in the aluminum alloy ingot industry:
- Novelis Inc., a leading sustainable aluminum solutions provider and a world leader in aluminum rolling and recycling, announced in 2024 that it has signed a green PPA with Statkraft, Europe's largest producer of renewable energy. The PPA will cover the extensive part of up to 40% of the electricity used at two major Novelis manufacturing plants in Germany, Nachterstedt Recycling and Nachterstedt Rolling, which corresponds to around 16% of the company's total German electricity consumption.
- In 2024, The Beihai Ecological Aluminum Project, initiated by Guangxi Investment Group, commenced phase one construction with a total investment of around RMB50 billion. This project aims to achieve significant production capacities, including alumina, primary aluminum, secondary aluminum, aluminum extrusions, and prebaked anode, contributing to substantial annual production value and tax revenue upon full operation in 2024.
Product Description
Aluminum alloy ingot is a type of material which is created by combining aluminum with various other metals to improve its properties. The addition of various elements like copper, magnesium, silicon and zinc helps in enhancing its strength, resistance to corrosion and durability. The manufacturing process of aluminum alloy ingots involves melting the base aluminum and then adding the alloying elements in precise proportions. The molten alloy is then transferred into molds to solidify. Once cooled and solidified the aluminum ingots can be further processed through rolling, extrusion, or forging to produce components and structures used in various industries which includes automotive, aerospace, construction, and electronics. Aluminum alloy ingots are valuable resources in sustainable manufacturing and construction practices due to their versatility and recyclability. This has contributed to their growing demand in the global market.
Regional Coverage
The report provides a detailed analysis of the aluminum alloy ingot market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the aluminum alloy ingot price trend.
Global Aluminum Alloy Ingot Price
The report offers a holistic view of the global aluminum alloy ingot pricing trends in the form of aluminum alloy ingot price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of aluminum alloy ingot but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed aluminum alloy ingot demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Aluminum Alloy Ingot Price
The aluminum alloy ingot market in Europe faced challenges in the fourth quarter of 2023, but it maintained a stable environment due to a robust balance between demand and supply. Despite concerns about weak economic conditions and sluggish demand affecting infrastructure projects, government initiatives supporting the downstream construction sector helped keep aluminum alloy ingot prices resiliently elevated.
This analysis can be extended to include detailed aluminum alloy ingot price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Aluminum Alloy Ingot Price
In Q4 2023, the North American aluminum alloy ingot market faced challenges due to moderate demand, the Inflation Reduction Act falling short of expectations, and fluctuating inventory levels. The USA experienced a decline in ingot prices during the initial week of October but saw an upswing driven by increased demand from the automotive and housing sectors in the final week of September.
Specific aluminum alloy ingot historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Aluminum Alloy Ingot Price
The analysis of aluminum alloy ingot prices in the Middle East and Africa provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
In addition to region-wise data, information on aluminum alloy ingot prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Aluminum Alloy Ingot Price
The APAC region's Aluminum Alloy Ingot market saw a surge in prices due to limited supply, increased demand from automotive and construction sectors, and disruptions in the bauxite supply chain. Japan was the most affected country, with lead times extending and freight charges increasing. However, the implementation of government policies and deals supported increasing demand in the domestic market.
This aluminum alloy ingot price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Aluminum Alloy Ingot Price
The analysis of aluminum alloy ingot prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Aluminum Alloy Ingot |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Aluminum Alloy Ingot Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of aluminum alloy ingot pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
- The study examines factors affecting aluminum alloy ingot price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The aluminum alloy ingot price charts ensure our clients remain at the forefront of the industry.
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- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
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- For further assistance, please connect with our analysts.
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