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.

Month
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

$2239 per tonne

Price for next year 2024

$2103 per tonne

Long-term price 2025-2030

$1247 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.

⭐ Step into the financial world with BeatStart! It's your chance to grab the keys to financial freedom. Our course, designed for beginners, is a powerhouse of knowledge. Picture this: users who joined us saw a staggering 31.9% growth in their portfolios in 2023.

You're just 10 lessons away from mastering the art of smart investing.

Don't wait, start now! This is more than a course, it's your ticket to financial liberation! 💸

🚀 Let’s start now!

Aluminum Price for Today

Growth

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

2116.74 USD

Maximum Forecast Value

2339.56 USD

% value change

0%

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 2083 USD -0.063 -0.0030% +2.12% +12.26% 03.03.2024
Silver 23.14 USD -0.0015 -0.0067% +2.00% +8.75% 03.03.2024
Palladium 959.87 USD 0.00 0.00% +0.41% -33.56% 03.03.2024
Platinum 891.65 USD -0.33 -0.037% -1.46% -9.22% 03.03.2024
Copper 3.86 USD 0.00 0.00% +0.77% -5.16% 03.03.2024
Aluminum 2238.69 USD 0.00 0.00% +0.13% -6.92% 03.03.2024
Zinc 2407.81 USD 0.00 0.00% -1.59% -21.76% 03.03.2024
Nickel 17435 USD +450.00 +2.65% +5.44% -29.75% 29.02.2024

Where will be Aluminum in 5 years

Falling

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 1875.639 USD 1894.044 USD -353.84 USD (-18.77%)
01.12.2025 1567.462 USD 1585.021 USD -308.6 USD (-19.58%)
01.12.2026 1259.520 USD 1277.481 USD -307.74 USD (-24.26%)
01.12.2027 951.831 USD 975.175 USD -305 USD (-31.66%)
01.12.2028 644.412 USD 665.880 USD -308.36 USD (-47.07%)
01.02.2029 689.038 USD 693.252 USD +36 USD (5.21%)

Aluminum Forecast 2024

Falling

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
01.04.2024 2124.055 USD 2207.876 USD -72.72 USD (-3.36%)
01.05.2024 2074.555 USD 2118.019 USD -69.68 USD (-3.32%)
01.06.2024 1979.495 USD 2061.038 USD -76.02 USD (-3.76%)
01.07.2024 1959.851 USD 1974.251 USD -53.22 USD (-2.71%)
01.08.2024 1962.512 USD 1976.431 USD +2.42 USD (0.12%)
01.09.2024 1961.601 USD 1976.766 USD -0.29 USD (-0.01%)
01.10.2024 1909.975 USD 1979.662 USD -24.37 USD (-1.25%)
01.11.2024 1892.657 USD 1913.456 USD -41.76 USD (-2.19%)
01.12.2024 1875.639 USD 1894.044 USD -18.21 USD (-0.97%)

Aluminum Price Prediction 2025

Falling

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 1894.388 USD 1931.861 USD -325.56 USD (-17.02%)
01.02.2025 1906.359 USD 1940.319 USD +10.21 USD (0.53%)
01.03.2025 1876.503 USD 1940.559 USD -14.81 USD (-0.78%)
01.04.2025 1817.404 USD 1900.193 USD -49.73 USD (-2.68%)
01.05.2025 1769.537 USD 1812.498 USD -67.78 USD (-3.78%)
01.06.2025 1664.025 USD 1757.384 USD -80.31 USD (-4.69%)
01.07.2025 1651.871 USD 1665.887 USD -51.83 USD (-3.12%)
01.08.2025 1654.574 USD 1668.128 USD +2.47 USD (0.15%)
01.09.2025 1653.444 USD 1669.493 USD +0.12 USD (0.01%)
01.10.2025 1605.491 USD 1671.920 USD -22.76 USD (-1.39%)
01.11.2025 1586.840 USD 1599.280 USD -45.65 USD (-2.87%)
01.12.2025 1567.462 USD 1585.021 USD -16.82 USD (-1.07%)

Aluminum Prediction 2026

Falling

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 1586.837 USD 1623.959 USD -633.29 USD (-39.45%)
01.02.2026 1599.536 USD 1630.623 USD +9.68 USD (0.6%)
01.03.2026 1567.733 USD 1634.450 USD -13.99 USD (-0.87%)
01.04.2026 1511.656 USD 1591.802 USD -49.36 USD (-3.18%)
01.05.2026 1464.040 USD 1511.607 USD -63.91 USD (-4.3%)
01.06.2026 1358.832 USD 1453.346 USD -81.73 USD (-5.81%)
01.07.2026 1344.092 USD 1360.253 USD -53.92 USD (-3.99%)
01.08.2026 1346.807 USD 1359.719 USD +1.09 USD (0.08%)
01.09.2026 1345.555 USD 1362.019 USD +0.52 USD (0.04%)
01.10.2026 1301.444 USD 1365.091 USD -20.52 USD (-1.54%)
01.11.2026 1272.897 USD 1291.904 USD -50.87 USD (-3.97%)
01.12.2026 1259.520 USD 1277.481 USD -13.9 USD (-1.1%)

Aluminum Price Forecast 2027

Falling

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 1281.016 USD 1315.700 USD -940.33 USD (-72.42%)
01.02.2027 1291.670 USD 1320.533 USD +7.74 USD (0.59%)
01.03.2027 1259.557 USD 1327.614 USD -12.52 USD (-0.97%)
01.04.2027 1211.153 USD 1282.811 USD -46.6 USD (-3.74%)
01.05.2027 1148.881 USD 1186.821 USD -79.13 USD (-6.78%)
01.06.2027 1051.271 USD 1148.398 USD -68.02 USD (-6.18%)
01.07.2027 1036.532 USD 1053.772 USD -54.68 USD (-5.23%)
01.08.2027 1039.210 USD 1051.300 USD +0.1 USD (0.01%)
01.09.2027 1037.930 USD 1054.341 USD +0.88 USD (0.08%)
01.10.2027 997.790 USD 1057.762 USD -18.36 USD (-1.79%)
01.11.2027 967.186 USD 985.369 USD -51.5 USD (-5.27%)
01.12.2027 951.831 USD 975.175 USD -12.77 USD (-1.33%)

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 971.521 USD 1007.756 USD -1249.05 USD (-126.21%)
01.02.2028 983.200 USD 1011.933 USD +7.93 USD (0.79%)
01.03.2028 952.046 USD 1020.060 USD -11.51 USD (-1.17%)
01.04.2028 911.013 USD 975.539 USD -42.78 USD (-4.53%)
01.05.2028 840.962 USD 885.725 USD -79.93 USD (-9.26%)
01.06.2028 744.560 USD 841.378 USD -70.37 USD (-8.87%)
01.07.2028 729.204 USD 744.422 USD -56.16 USD (-7.62%)
01.08.2028 731.775 USD 744.154 USD +1.15 USD (0.16%)
01.09.2028 730.557 USD 746.463 USD +0.55 USD (0.07%)
01.10.2028 679.264 USD 749.976 USD -23.89 USD (-3.34%)
01.11.2028 658.847 USD 679.277 USD -45.56 USD (-6.81%)
01.12.2028 644.412 USD 665.880 USD -13.92 USD (-2.12%)

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.

🔥Ready to transform your financial future? BeatStart is here to make it happen! Our specialized course for beginners is your gateway to the investment world, offering unparalleled insights and strategies.

Imagine achieving a phenomenal 31.9% portfolio growth like our 2023 users! Seize this opportunity, embrace the journey, and watch your financial skills soar. This isn't just education; it's your path to financial empowerment. Get started with BeatStart and unlock your potential today! 🚀💰

🚀 Let's start BeatStart!

About Aluminum

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

Short-term

(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.

Medium-term

(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.

Long-term

(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.

FAQ

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.

Aluminum News

ALU

Aluminum
2024-01-08

Bahrain Tamkeen backs Alumicor’s aluminum recycling factory

ALU

Aluminum
2024-01-08

Residential Applications of Composite Aluminum Panels: Elevating Home Exteriors

ALU

Aluminum
2024-01-07

Tamkeen supports Alumicor to launch an advanced aluminum recycling factory in Askar

ALU

Aluminum
2024-01-07

Solar Frame Market to Eyewitness Huge Growth by 2030| Berbertec, Alnan Aluminium, Fujian Fenan Aluminum

ALU

Aluminum
2024-01-05

Aluminum Market is expected to grow at a CAGR of 5.3% during the forecasted period | Evolve Business Intelligence

Join the BeatMarket community and you can:

  • Ask the questions you are interested in
  • Sort out your portfolio with professionals
  • Read educational materials
  • Learn new ideas and dispel fears

Get trained in a community of like-minded people, and you will be able to step by step to a new level in investing!

Join our community

Dynamics of changes in the value of assets

Stocks


MSFT

MSFT

415.39 USD Microsoft Corporation +1.75 (+0.42%)
Detailed analytics

ETF funds


M

MDAXEX

206.85 CHF iShares MDAX UCITS ETF (DE) +1.13 (+0.49%)
Detailed analytics

Metals


Gold

2083 USD Gold -0.06 (-0%)
Detailed analytics