How much will aluminum cost in 2022?

Innovation and Science Australia (ISA) predicts that the price of aluminum will grow to $2,134/t in 2021 and to $2,160/t in 2022, the highest growth forecast by any of the three organizations. For their forecasts, both World Bank and the IMF use London Metal Exchange (LME) settlement prices for high-grade unalloyed primary ingots of 99.7% purity.

How much is primary aluminum worth?

Based on published prices, the value of primary aluminum production was about $2.70 billion, 35% more than the value in 2020. The average annual U.S. market price increased by about 55% from that in 2020.

Why did aluminum prices go up in January?

After two consecutive months of decline, aluminum prices broke upward by 4.8% in January. Soon after, the energy crisis in Europe began heavily impacting aluminum production, with smelters across the continent slowing to a crawl. Aluminum prices followed a similar trend in February, initially rising by 6.1%.

How much aluminum is recycled in 2021?

Recycling: In 2021, aluminum recovered from purchased scrap in the United States was about 3.2 million tons, of which about 53% came from new (manufacturing) scrap and 47% from old scrap (discarded aluminum products). Aluminum recovered from old scrap was equivalent to about 30% of apparent consumption.