Aluminium Alloy Ingot Price History and Forecast Analysis | Procurement Resource

During the initial half of 2023, the market dynamics for aluminum alloy ingots showed distinct patterns in different regions. In Q1, the Asia-Pacific region maintained price stability, benefiting from well-managed inventories and consistent demand. However, the trend was disrupted in the subsequent quarter due to declining production rates, rising inventories, and a drop in aluminum scrap prices.

Challenges persisted in Q2, with sluggish demand and increased import costs, although overseas markets displayed positive sentiments. In Europe, the first quarter witnessed stabilization attributed to controlled supply and post-holiday demand from Asia. In Q2, prices surged driven by constrained supply and robust demand from downstream industries, but were tempered by US banking crises and decreased consumption in North America.

In North America, Q1 prices were supported by sanctions on Russian imports, but Q2 faced challenges from labor market fluctuations, weakened procurement, and financial crises impeding upward trends.

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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 trends, 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 employed across various industries due to their versatile properties. In the automotive sector, these ingots play a crucial role in manufacturing lightweight components that enhance both fuel efficiency and vehicle performance. In aerospace, their unique combination of strength and low weight is indispensable for crafting essential aircraft parts. The construction industry benefits from their corrosion resistance, utilizing them in roofing, windows, and structural elements. Additionally, the consumer electronics, packaging, and machinery sectors leverage aluminum alloy ingots for their malleability, electrical conductivity, and heat dissipation capabilities. The diverse alloy compositions cater to specific needs, ensuring that these ingots play a pivotal role in shaping modern 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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