Aluminium Alloy Ingot Prices Today, Price Chart and Forecast Analysis | Procurement Resource
During the initial half of 2023, the market trends for aluminum alloy ingots varied across regions. In Asia-Pacific, Q1 maintained stable prices due to balanced inventories and demand, but faced disruption in Q2 due to decreased production, higher inventories, and a decline in aluminum scrap prices. Meanwhile, Europe experienced stabilization in Q1 owing to limited supply and increased demand post-holidays from Asia. However, Q2 witnessed price surges driven by constrained supply and robust demand from downstream industries, tempered 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 encountered challenges like labor market fluctuations, weakened procurement, and financial crises, impeding positive market 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 find extensive applications across diverse industries due to their versatile attributes. Within the automotive sector, they play a crucial role in fabricating lighter components, enhancing both fuel efficiency and performance. Aerospace heavily relies on their impressive strength-to-weight ratio for essential aircraft parts. In construction, their resistance to corrosion makes them valuable in various applications such as roofing, windows, and structural elements. Additionally, the consumer electronics, packaging, and machinery industries highly appreciate these ingots for their flexibility, conductivity, and heat dissipation capabilities. Customized alloy compositions cater to specific needs, establishing these ingots as pivotal elements shaping the spectrum of modern industrial uses.
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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