Aluminum Price Forecast & Long-term Prediction

Aluminum is a base metal originally considered to be more valuable than gold. Nowadays, the entire demand for it is only for industrial use. The main sectors are construction, household goods manufacturing, chemical and oil refining industries. Along with nickel and copper, it is used in green energy. Therefore, it is considered one of the key future metals.

Aluminum price forecasts depend on many factors. In the short term, they are influenced by economic expectations and the level of interest rates. In the long term, they are determined by promises of supply shortages against the backdrop of growing demand.

1 year
3 years

Aluminum ranks first among metals in terms of prevalence. But experts believe the market will soon face a shortage of aluminum. This is due to the fact that production will not keep up with the growing demand. The latter is largely provided by "green" initiatives. These include an increase in the production of electric vehicles, etc. The demand for aluminum would increase twice as slowly without these sectors.

But Goldman Sachs' aluminium price forecast 2023 did not come true. The bank expected levels above $3000 per tonne by the mid-year. But the growth of quotations was hampered by increased output and lower than expected demand.

The May predictions of the World Bank about further price decline did not come true either. Therefore, there are claims that the aluminum market has found its equilibrium. Some experts believe that it will remain in this equilibrium in the coming years.

Key Findings

A summary of the aluminum price prediction is given below:

Price Today

$2500 per tonne

Price for next year 2024

$1929 per tonne

Long-term price 2025-2030

$1262 per tonne

Quotes rise when the market expects supply disruptions or inventory reductions. The metric ton price falls when there is weak demand. Increased aluminum production is also a bearish factor.

Aluminum Price for Today


The current LME aluminum price forecast is bullish. This is due to expectations of monetary policy easing. Traders no longer believe in the possibility of a prolonged recession. The market is in a positive mood. Indicators of technical analysis give signals to buy.

Minimum forecast cost

2382.17 USD

Maximum Forecast Value

2632.92 USD

% value change


Aluminum Technical Analysis

The most popular technical analysis tools are proper for predicting aluminum price trends. These include oscillators (RSI, MACD), moving averages, etc. Below is given an interactive widget. It allows you to get a forecast for different timeframes. Buy/Sell recommendation is given based on the most popular indicators.

At the end of December 2023, the aluminum futures price reached a local high. Following that, profit taking began. In the first half of January, the chart shows a clearly pronounced bearish trend. Consensus forecast of key indicators "actively selling" is observed on all senior timeframes.

But the arguments in favour of the possible growth of quotations:

  1. Finding a price close to a strong level of support. Several times in the last six months, the chart unfolded near this value.
  2. Bullish Engulfing candle pattern on 5H timeframe. But it has average reliability.
  3. Purchase signals from moving averages and some indicators on junior timeframes.

BeatMarket experts believe that the aluminum market will remain volatile in the next month. Most likely, the quotes will move in the sidewall. Short-term price rises are possible. But a pronounced bullish trend is unlikely.

Fundamental analysis

The table below contains the prices of the main metals. It also reflects the dynamics of quotations for a day, month, year. The tool allows you to see the performance of aluminum with iron, nickel, etc. compared to each other.

Price Day Month Year Date
Gold 2339.94 USD +11.09 +0.48% -3.86% +19.85% 20.06.2024
Silver 30.28 USD +0.85 +2.90% -3.74% +27.32% 20.06.2024
Palladium 912.74 USD +26.13 +2.95% -10.55% -34.47% 20.06.2024
Platinum 985.7 USD +10.23 +1.05% -9.86% +2.36% 20.06.2024
Copper 4.49 USD +0.016 +0.37% -10.33% +15.67% 20.06.2024
Aluminum 2499.88 USD +7.79 +0.31% -4.91% +12.10% 20.06.2024
Zinc 2847.73 USD +35.54 +1.26% -5.93% +20.69% 20.06.2024
Nickel 17080 USD +90.00 +0.53% -11.66% -23.97% 19.06.2024

Where will be Aluminum in 5 years


Ongoing aluminum price forecasts are negative. Experts are of the opinion that in the next 5 years the quotations will face pressure. Bearish factors will prevail over bullish ones. This will cause the boom in the market to come to an end.

Following the 2022 surge, the metal's value has declined markedly. In the next 5 years, this trend will continue. Analysts predict a return to the average historical value. In some periods, more significant falling quotes are possible.

The excitement that arose in 2022 turned out to be unjustified. Now the market will be cautious about the prospects of a deficit of this metal. There are no fundamental factors that would bring quotations back to historical highs.

Experts do not recommend aluminum-related assets for long-term investments. Experienced traders can profit from playing on the downside. But there will definitely be local corrections in a bear market.

Date Min forecast price Max forecast price Change
01.12.2024 1875.708 USD 1895.116 USD -614.47 USD (-32.59%)
01.12.2025 1574.270 USD 1593.256 USD -301.65 USD (-19.05%)
01.12.2026 1273.083 USD 1292.354 USD -301.04 USD (-23.47%)
01.12.2027 972.168 USD 996.791 USD -298.24 USD (-30.29%)
01.12.2028 671.540 USD 694.278 USD -301.57 USD (-44.16%)
01.02.2029 706.854 USD 723.287 USD +32.16 USD (4.5%)

Aluminum Forecast 2024


Aluminum price forecast 2024 is negative. Technical analysis indicators point to a downward exit of quotations from the sidewall. Fundamental factors are also on the side of bears. The market is promised some level of supply surplus. The cost per tonne will decrease further relative to the record values of 2022.

Date Min forecast price Max forecast price Change
01.08.2024 1960.403 USD 1974.352 USD -532.51 USD (-27.07%)
01.09.2024 1960.954 USD 1975.101 USD +0.65 USD (0.03%)
01.10.2024 1909.418 USD 1979.378 USD -23.63 USD (-1.22%)
01.11.2024 1892.868 USD 1912.760 USD -41.58 USD (-2.19%)
01.12.2024 1875.708 USD 1895.116 USD -17.4 USD (-0.92%)

Aluminum Price Prediction 2025


The aluminum price forecast 2025 is bearish. Analysts predict a negative scenario for most metals for the period. A number of experts consider current demand growth expectations to be overly optimistic. They are confident that the market will not develop at such a pace. This will result in significant corrections.

Date Min forecast price Max forecast price Change
01.01.2025 1895.801 USD 1932.221 USD -585.87 USD (-30.61%)
01.02.2025 1910.700 USD 1941.791 USD +12.23 USD (0.64%)
01.03.2025 1879.551 USD 1941.456 USD -15.74 USD (-0.82%)
01.04.2025 1820.252 USD 1902.572 USD -49.09 USD (-2.64%)
01.05.2025 1772.167 USD 1815.121 USD -67.77 USD (-3.78%)
01.06.2025 1667.863 USD 1759.942 USD -79.74 USD (-4.65%)
01.07.2025 1655.998 USD 1669.905 USD -50.95 USD (-3.06%)
01.08.2025 1659.297 USD 1672.823 USD +3.11 USD (0.19%)
01.09.2025 1659.569 USD 1674.540 USD +0.99 USD (0.06%)
01.10.2025 1611.842 USD 1678.694 USD -21.79 USD (-1.32%)
01.11.2025 1593.836 USD 1605.382 USD -45.66 USD (-2.85%)
01.12.2025 1574.270 USD 1593.256 USD -15.85 USD (-1%)

Aluminum Prediction 2026


Experts believe that aluminum quotations will not show any significant movement in 2026. The market for this metal is predicted to stagnate and prices will go into a sidewall. Minor fluctuations in the cost of a tonne will not allow to earn a significant profit on this asset. It is unlikely the graph line will be able to break through the corridor of 5-10% of the average.

Date Min forecast price Max forecast price Change
01.01.2026 1594.894 USD 1630.910 USD -886.98 USD (-54.99%)
01.02.2026 1610.566 USD 1639.147 USD +11.95 USD (0.74%)
01.03.2026 1577.637 USD 1642.148 USD -14.96 USD (-0.93%)
01.04.2026 1521.140 USD 1601.053 USD -48.8 USD (-3.13%)
01.05.2026 1473.454 USD 1521.036 USD -63.85 USD (-4.26%)
01.06.2026 1369.379 USD 1462.698 USD -81.21 USD (-5.73%)
01.07.2026 1355.058 USD 1371.285 USD -52.87 USD (-3.88%)
01.08.2026 1358.356 USD 1371.200 USD +1.61 USD (0.12%)
01.09.2026 1358.445 USD 1373.786 USD +1.34 USD (0.1%)
01.10.2026 1314.706 USD 1378.618 USD -19.45 USD (-1.44%)
01.11.2026 1286.605 USD 1305.004 USD -50.86 USD (-3.92%)
01.12.2026 1273.083 USD 1292.354 USD -13.09 USD (-1.02%)

Aluminum Price Forecast 2027


The long-term LME aluminum price forecast is bearish. Analysts say the metal market is expected to decline in 2027. Experts believe that such a scenario is realized when economic uncertainty increases. Many believe that green energy transition programmes will face a number of problems. As a result, aluminum ∂demand will not grow as fast as currently planned.

Date Min forecast price Max forecast price Change
01.01.2027 1295.634 USD 1329.464 USD -1187.33 USD (-90.46%)
01.02.2027 1309.557 USD 1336.142 USD +10.3 USD (0.78%)
01.03.2027 1276.294 USD 1342.162 USD -13.62 USD (-1.04%)
01.04.2027 1227.378 USD 1298.947 USD -46.07 USD (-3.65%)
01.05.2027 1165.024 USD 1202.995 USD -79.15 USD (-6.69%)
01.06.2027 1068.984 USD 1164.680 USD -67.18 USD (-6.02%)
01.07.2027 1054.330 USD 1071.396 USD -53.97 USD (-5.08%)
01.08.2027 1057.579 USD 1069.522 USD +0.69 USD (0.06%)
01.09.2027 1057.579 USD 1072.836 USD +1.66 USD (0.16%)
01.10.2027 1017.963 USD 1078.041 USD -17.21 USD (-1.64%)
01.11.2027 987.697 USD 1004.904 USD -51.7 USD (-5.19%)
01.12.2027 972.168 USD 996.791 USD -11.82 USD (-1.2%)

Aluminum Price Forecast 2028

The aluminum forecast for 2028 is neutral. Experts, who were optimistic back in early 2023, are reducing the target prices. Aluminum is a natural resource. Among them, for example, Goldman Sachs. In the spring of 2023, the bank predicted that the cost of a ton will cross the border of $5,000 already in 2025.

The reasons for this are negative fundamental factors:

Consensus forecast of the most authoritative analysts - growth of quotations within 30% relative to the early 2024 levels.

Date Min forecast price Max forecast price Change
01.01.2028 993.019 USD 1029.297 USD -1488.73 USD (-147.23%)
01.02.2028 1007.992 USD 1033.845 USD +9.76 USD (0.96%)
01.03.2028 975.591 USD 1041.506 USD -12.37 USD (-1.23%)
01.04.2028 934.026 USD 998.244 USD -42.41 USD (-4.39%)
01.05.2028 864.221 USD 908.708 USD -79.67 USD (-8.99%)
01.06.2028 768.891 USD 864.428 USD -69.81 USD (-8.55%)
01.07.2028 753.826 USD 768.955 USD -55.27 USD (-7.26%)
01.08.2028 756.956 USD 769.060 USD +1.62 USD (0.21%)
01.09.2028 756.956 USD 771.699 USD +1.32 USD (0.17%)
01.10.2028 705.936 USD 777.008 USD -22.86 USD (-3.08%)
01.11.2028 686.296 USD 705.683 USD -45.48 USD (-6.53%)
01.12.2028 671.540 USD 694.278 USD -13.08 USD (-1.92%)

Aluminum price Forecast 2030 to 2050

In the longer term, the aluminum products price outlook is bullish. This also applies to the stocks of its manufacturers, as well as those of raw material miners. There are several reasons for this prediction:

  1. Market boom expected for all metals involved in green initiatives.
  2. Organic growth in demand from the industry. Aluminum displaces tin in the manufacture of packaging and is more actively used in other sectors.
  3. Inflation expectations.
  4. Rising costs of primary aluminum units production due to the need to reduce emissions. Achieving target levels requires investments significantly higher than current investments.

The industry's annual demand for aluminum in 2050 will reach about 170 million tonnes. However, experts predict an increase in the speed of product processing. This will reduce the need for raw materials and primary metal.

Therefore, the rate of price growth is an important issue. In 1996, a tonne of aluminum cost about $1500. At the end of 2023 - about $2250. Such dynamics cannot be considered competitive and proper for investors. For example, the SP500 broad market index outperforms it many times over.

For the next 27 years, up to 2050, experts predict a more optimistic scenario. In their opinion, the aluminum market will show significant growth rates. They name levels of x5 - x10 relative to the current levels.

Aluminum Projections For Next 10 Years

Long-term expectations related to grey gold prices are positive. Analysts believe the quotations will go up in the next 10 years. The market is promised an increase in turnover by almost 2 times. However, aluminum is expected to remain a volatile asset. Against the background of the global bullish trend, experts predict frequent corrections.

Optimistic analysts call the levels of $15 thousand per tonne achievable. But the actual price depends on the supply and demand balance. These figures will become a reality when the forecasts on metal deficit come true. If the scenario of equilibrium in the market is realized, the quotations may not renew the historical maximum.

Aluminum price prediction 2030

The International Aluminium Institute expects demand to grow. By 2030, the demand for this metal will increase by 40%. The global industry will need about 33.3 million tonnes of primary aluminum per year. Research manager at Straits Research P. Ltd: "The market will reach a volume of $255bn. The average CAGR will reach 6.1%".

The aluminum price forecast 2030 is bullish. Analysts name widely differing figures. But they all expect the cost per tonne to be higher than the current price.

In addition to the supply and demand balance, the cost per tonne of aluminum may be affected by:

  1. the carbon dioxide emission reduction associated with the manufacturing process;
  2. the electricity cost (aluminum smelting remains an energy-intensive process);
  3. geopolitical situation and military conflicts.

According to some experts, the price per tonne would be in the five digits by 2030. But 2023 proved that the forecasts on the deficit level failed to meet the expectations. It is highly probable that producers will be able to cope with market demands in the future.

Aluminum forecast 2040

At the moment, experts are in a positive mood. The bullish forecasts are based on predictions of rapid growth in demand. The aluminum market is promised active development and price growth. Owners of stocks of producers of this metal will also benefit.

But on long time horizons unpredictable factors may appear, for example:

  • new technologies that will make aluminum cheaper by multiples or make it unavailable;
  • changes in the adoption rate of green energy;
  • political conflicts and economic crises.

Any of these factors will affect the final cost in 2040. Only 2 things seem indisputable. First, quotations will certainly rise. Aluminum has intrinsic value, which means it will rise in price as a result of inflation. Second, the asset will remain volatile. It is likely that the market will again see price fluctuations similar to those observed in 2022.

Aluminum Future price 2050

The current aluminum price forecast 2050 is bullish. It will remain bullish as long as the metal remains in demand in key industries.

CRU Group experts made an optimistic forecast. They believe that primary aluminum demand will reach 107.8 million tonnes in 2050.

Bearish factors on the aluminum market may include:

  • developing low-cost energy sources that will reduce production costs;
  • growth in recycling, which will reduce the need for primary metal;
  • introduction of fundamentally new materials that will replace aluminum.

Yet the probability and degree of influence of these factors are difficult to predict. Experts believe that the cost of a tonne may be as high as $20 thousand. But this requires a scenario of total deficit of basic metals.

Moderate analysts point to a lower price threshold. The average forecast is x2 - x3 from current levels.

About Aluminum


Aluminum is an industrial metal that is not considered an investment asset. It also has no jewelry demand today. It is impossible to invest in it physically, as in gold or platinum. Aluminum ingots are used to produce rolled steel and foil. They are never stored in anticipation of an increase in value.

There are 3 ways to profit from the growth of exchange prices for aluminum:

  1. Trading metal futures. This is the most risky way. When the market goes against the trader's position, the latter will lose money.
  2. Buying stocks of aluminum manufacturers or bauxite miners. For example, Rio Tinto (RIO), Alcoa (AA), Century Aluminium (CENX). This is a less risky way of doing things. But profitability depends not only on metal prices. It is heavily influenced by the internal problems of the company chosen.
  3. Investing in aluminum ETFs. Among them there are those that work with futures and with stocks. For example, the iPath Series B Bloomberg Aluminium Subindex Total Return ETN (JJU). Buying ETFs is considered the safest way to invest in metal.

Aluminum can be traded off-exchange by trading CFDs on Forex.

Buying aluminum assets is a bet on economic growth and development of green energy. They can also be considered a hedge against a weakening dollar.

Aluminum Price History Chart

Key dates

Year 2008

In summer, the price of a tonne of aluminum on the London Metal Exchange reached an all-time high. Quotes rose above the $3000 mark. But against the backdrop of the global crisis, the value of this asset collapsed. Already next year, the average price was around $1600.

Year 2011

The boom in the metals market turned out to be a bullish factor for aluminum. Nevertheless, the quotations failed to renew the historical maximum. The price per tonne barely exceeded $2700.

Year 2022

The price surge was caused by the influence of 2 bullish factors at once. The first is the outbreak of coronavirus in China. The second is sanctions against Russia. This led to concerns about a significant deficit. In the first quarter, the metal's value hit a peak. In March, it exceeded $3700 per tonne. This became a new historical maximum.

What Influences Aluminum Price

Supply and demand ratio

Aluminum prices are strongly dependent on the demand level. When global stocks increase, the price will decrease. There is also a seasonal dependence. At certain times, the industry's need for this metal is higher. Prices in such months also traditionally rise.

An increase in price is also possible if there is a risk of a shortage. When there are reasons to expect a decline in production, quotations also go up. For example, in 2022 there will be a decline in production and a historical maximum of quotations.

Political and economic situation

Like other commodities, aluminum rises in price during periods of economic growth. When the market expects a recession and production cuts, metal prices fall. This factor is often more important than supply and demand.

The situation in the main producing countries also affects quotations. The key market participant is China. Then come India, Russia and Canada.

Interest rates and dollar exchange rate

The strong dollar and high Fed Funds rate put pressure on the metals market. They also negatively affect aluminum quotations. Monetary policy easing is a bullish factor. The weakening of the dollar also contributes to price growth.

Production cost

Smelting aluminum requires raw materials. Its cost determines the final price. Associated costs also have an impact. For example, the energy required for production.

Is Aluminum A Good Investment


(1-6 month)

Short-term aluminum price outlook is negative. The market is under the influence of bears. Traders do not consider the current moment to be a good time to build up positions in the metal. They prefer more reliable assets. Indicators of technical analysis point to a negative scenario.


(6-12 month)

The aluminum price forecast 2024 is bearish. Analysts predict that quotations will update the local minimum in 6-12 months. This is due to the increasing supplies of the metal. The risks of its deficit can be temporarily considered unrealised.


(1 year+)

In the long term, experts call aluminum an unpromising asset. Fears of a serious deficit in 2022 are refuted. Under the condition of supply and demand equilibrium, the metal looks overvalued. The most likely scenario is a decline in quotations or a sideways exit.


What is the forecast for aluminum in 2024?

Experts believe that aluminum quotations will increase in 2024. But the difference from 2023 will be insignificant. The 2022 maximums are unlikely to be repeated in the near future. This is largely due to the growth of metal output in China. Demand is not increasing as fast as expected in 2022.

Will aluminum prices go down?

This situation is possible to happen with several factors coming together. For this to happen, metal production volumes must increase. At the same time, it is necessary to maintain high interest rates. The latter slows down industrial growth and reduces demand. But in the perspective of several years, experts predict a bull market for aluminum. The main reason is its high demand.

Is demand for aluminum increasing?

Yes, the demand for aluminum is growing. This is primarily due to the emergence of electric vehicles. "Grey gold is also used in the manufacture of charging devices for them. The development of solar generation is an important factor. Demand in other areas of industry is also increasing. This is due to "organic" reasons - population growth and prosperity.

What will be the demand for aluminum in 2030?

Global demand for aluminum is projected to increase by 19% by 2030. The world demand for this metal will reach 80 million tonnes. In certain industries, the level of its demand will grow twofold. Other sources believe that 120 million tonnes will be used in the same period.

What is the recommended precious metal to buy at present?

Precious metals include gold, silver, platinum and palladium. The first of them is considered the most promising. Experts predict a significant growth in its quotations. Gold is represented in many model portfolios. It is often recommended to beginners as a conservative investment. The high potential for value increase is due to the numerous spheres of application.

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