The price of aluminum is rising. Will it reach $4,000 per ton?
2023-01-26
With the start of 2023, the price of aluminum started to rise from January 6 of this year. During the period of the previous year, the price of aluminum was the highest at the beginning of March and reached as much as $3,840 per ton. However, the price of aluminum continued to decrease until the end of the year. At the end of September last year, the price of aluminum had fallen to its lowest point, and at that time it was $2100 per ton or even less. It is easy to calculate that the price of aluminum has fallen by more than 45% from the highest point to the lowest point during the last year. Observing this situation of the price of aluminum in the metal exchanges, it is not surprising that the price of aluminum scrap has been constantly decreasing in the past year. The price of aluminum is very important for both industry and consumers. Aluminum is a very versatile material used in the production of many products, such as automobiles, construction and electronics industries, energy industries. As a result, the price of aluminum is highly sensitive to economic and political changes.
Changes in the price of aluminum can be related to production volume, energy prices, transportation costs and changes in international political and economic relations. For example, if production volumes are reduced due to technological problems or resource shortages, the price of aluminum may rise. Meanwhile, if energy prices decrease or there is stability in international relations, the price of aluminum may decrease.
In addition, the price of aluminum can also fluctuate due to market speculation. Speculators can buy or sell aluminum to profit from price movements, which can affect the price of aluminum.
According to the website scrapprice.com, it can be concluded that the highest price of aluminum scrap is in Turkey and Poland. Aluminum scrap is divided into many types, the prices of which differ quite significantly. The most expensive aluminum scrap is the one that contains the highest percentage of aluminum. Among the materials with the highest percentage of scrap aluminum is electrotechnical aluminum. Electrotechnical aluminum is the kind of aluminum production that is used in the energy industry - these are aluminum wires, cables and the like.
Aluminum scrap is easily recycled, so aluminum scrap is actively purchased by recyclers in every country. In general, the price of aluminum is very sensitive and can change due to various factors. Therefore, it is important for the aluminum industry and consumers to monitor aluminum prices and be ready to adapt to their changes.