In the first half of 2023, the Asian aluminium market saw mixed trends, with early rise supported by downstream demand, followed by a slide due to a US tariff on Russian imports. European prices were initially slow due to uncertainties, high living costs, and economic troubles. The US tariffs caused scarcity in Q2, pushing prices up. North America mirrored Europe’s trends, starting slow but rebounding due to depleting inventories and higher demand. Geopolitical shifts and economic factors drove these fluctuations across regions.
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Definition
Aluminium is a lightweight, silvery-white metallic element known for its excellent conductivity, corrosion resistance, and malleability. With an atomic number of 13, it belongs to the boron group of the periodic table. It is the most abundant metal in Earth’s crust but doesn’t occur naturally in its pure form. Instead, it’s extracted from minerals like bauxite. Due to its versatile properties, aluminium is widely used in various industries, including construction, transportation, packaging, and electronics, where its combination of strength and low density makes it valuable for a range of applications.
Key Details About the Aluminium 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 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 Price chart, including India Aluminium price, USA Aluminium 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 Price Trend:
Aluminium finds extensive industrial use due to its favorable properties. It’s a key material in transportation, forming car bodies, aircraft structures, and ship components due to its lightness and durability. In construction, it’s utilized in windows, doors, and facades for its corrosion resistance. The packaging industry employs it for cans and foils due to its barrier properties. Electrical wiring uses aluminium for its high conductivity. It’s also crucial in manufacturing machinery and equipment due to its malleability and heat resistance. Moreover, it’s used in heat exchangers, electronics, and even in space applications, showcasing its versatility and importance in various sectors.
Key Players:
- Rio Tinto plc
- United Company Rusal Plc
- American Elements
- Aluminium Corporation of China Limited (CHALCO)
- Alcoa World Alumina and Chemicals (“AWAC”) (Alumina Ltd)
News and recent developments:
Aluminum producers’ shares have surged recently due to lower coal costs and rising aluminum prices, expected to boost upcoming quarterly earnings. National Aluminium Co (Nalco) shares rose over 14% in July, testing a 52-week high. Hindalco shares increased by over 8%, reaching their highest level in six months.
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