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Aluminium Alloy Ingot Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Aluminium Alloy Ingot in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Aluminium Alloy Ingot Price Trend for the October - December of 2023
The fourth quarter of 2023 followed the same trail set up by the previous quarters of 2023. China experienced a shortage of bauxite supplies and thus the rates of export declined during the quarter, hampering the aluminium alloy ingot price trend. However, there was a slight upturn in the trend, too, which was based on the rise in the cost of electricity and energy production and the restricted supply of raw materials.
In the last quarter, the aluminium alloy ingot prices were stable as the equilibria of demand and supply were balanced. However, in the fourth quarter, the European Union announced additional sanctions on the import of aluminium-related goods, such as aluminium alloy ingot from Russia, which are crucial for the Russian economy amid the persistent tensions between Russia and Ukraine. The automotive and aerospace industries, on the other hand, raised their appetite for aluminium alloy ingot and thus given the circumstances, the aluminium alloy ingot price trend fluctuated.
In the fourth quarter of 2023, the US GDP showed a significant rise, and this positive movement helped in the rise of the demand for aluminium alloy ingot along with other base metals from the construction, industrial production, and retail sectors. Another factor that supported the US treasury was the steep fall in the prices of crude oil, which lowered the cost of production in the region and helped the manufacturers overcome the obstacles of heightened interest rates as they increased their production activities.
According to Procurement Resource, the price trend of Aluminium Alloy Ingot in the forthcoming quarters will be dependent on the automotive and global industrial sectors along with the condition of the global economy.
Aluminium Alloy Ingot Price Trend for the July-September of 2023
In the initial phase of the third quarter, the aluminium alloy ingot price trend moved with the optimistic approach of the construction and automotive sectors. However, soon, the cautious approach adopted by the overseas players while the rates of production overpowered the demand caused the inventory levels to shoot up and thus resulted in poor trading activities. After the initial downfall, during the rest of the quarter, despite several efforts of government, the demand remained in the negative zone, further affecting the price trend of aluminium alloy ingot.
The European countries suffered from the disruptions caused by the adverse weather conditions, which resulted in the lowering of construction and manufacturing activities. Further, the consumption of consumers was also hampered by the poor performance of the European economy and consistently increasing rates of interest. Within the end months of this quarter, the prices improved with the help of improvement in the construction and automotive sector demands and strict government policies.
In the first months of the third quarter, the excess supply from the Asia Pacific countries and increasing levels of inventories proved to be a challenge for the growth of aluminium alloy ingot price trend. The end-user industries hesitated in placing a large number of orders, depleted demand for aluminium alloy ingot. During the middle of the quarter, the trend experienced some stability, but soon, due to plunging economic conditions and consistently falling demand, the prices of aluminium alloy ingot experienced a downfall.
According to Procurement Resource, the price trend of Aluminium alloy ingot is estimated to struggle with excess stockpiles and feeble demand from the downstream industries.
Aluminium Alloy Ingot Price Trend for the First Half of 2023
The Asia-Pacific market witnessed stability in the prices of aluminium alloy ingot in the first quarter of 2023 as the level of inventories and demand for the product maintained a perfect balance. But soon enough, due to the sliding rates of production, the rising level of inventories, and the fall in the prices of aluminium scrap, the price trend of aluminium alloy ingot struggled to maintain its momentum.
In the second quarter, the aluminium alloy ingot market faced challenges from the sluggish demand and high cost of import materials. The overseas market, however, showcased some positive sentiments, but the restricted supply led to a fall in the prices of aluminium alloy ingot.
In the first quarter of 2023, the price trend of aluminium alloy ingot was stabilized with support from the slow supply to balance the demand from the end-user industries. The demand from Asian countries also inclined after a long holiday season. Thus, the price trend of aluminium alloy ingot surged in the second quarter.
In addition to these factors, the price trend was also supported by the restricted supply and strong demand from the downstream industries. But the financial constraints from the US banking crises and low consumption in the North American states restricted the growth of the aluminium alloy ingot price trend.
The first quarter of 2023 proved to be positive in terms of the prices of aluminium alloy ingot as the demand from Chinese sectors and the imposition of sanctions on Russian imports supported the aluminium alloy ingot market. However, in the second quarter, the price trend stabilized due to fluctuations in the labor market and low procurement of products by the buyers. The supply and demand equilibrium struggled throughout the quarter to maintain its momentum, and the rising inflation along with ongoing financial crises proved to be a huge block in the upward movement of the prices of aluminium alloy ingot.
According to Procurement Resource, the price trend of Aluminium Alloy Ingot is estimated to showcase an oscillating trend as the supply-demand dynamics seem to be uncertain amid the global financial crises and restricted imports from the Russian industries.
Procurement Resource provides latest prices of Aluminium Alloy Ingot. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
A solidified and ingot shaped blend of aluminium with other elements results in aluminium alloy ingot. The process of melting and casting is employed in the manufacturing of this alloy. The alloy has high strength, corrosion resistance, and lightweight. It is thus extensively used in industries such as automotive, aerospace, construction, and electronics for creating a wide range of products, from vehicle components to architectural materials, owing to their versatility and ability to be tailored to meet various application requirements.
|Aluminium Alloy Ingot
|Automotive industry, Aerospace industry, Medical devices, Energy industry, Railway and transportation, Marine industry
|Alcoa Inc., Rio Tinto Group, Aluminium Corporation of China Limited, RUSAL Plc, Norsk Hydro ASA
|Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|US$ (Data can also be provided in local currency)
|Supplier Database Availability
|The report can be customized as per the requirements of the customer
|Post-Sale Analyst Support
|360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In this multi-step process, the batching of raw materials is carried out which is then subjected to melting, slag removal, and sampling. The product obtained is then mixed with other metals in accordance with the alloy composition. In the last steps, the raw product is refined and casted onto ingots to finally give the final product.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103