Aluminium Price Today

Aluminium Historical Prices

The following is the list of historical prices of aluminium

1. Aluminium prices opened at Rs.3,021 per kg in the month of January 2022 and closed at Rs.2,378 in December 2022.
2. The price of the metal witnessed significant fluctuations and recorded a declining trend in its overall performance.
3. The cost of one kilogram of aluminium achieved its highest level in February 2022 when the price stood at Rs.3,368.50. While the aluminium price recorded its lowest price in September 2022 when the price stood at Rs.2,162.
4. The percentage change recorded for February 2022 and September 2022 are 11.50% and –8.35%, respectively.

Aluminium Price for Last 10 Days

Here is the list of aluminium price list for last 10 days:

Aluminium Multi Commodity Exchange (MCX) Price Details

Here are the price details of aluminium on the Multi Commodity Exchange (MCX):

Different Grades of Aluminium

The following is the list of grades of aluminium available in the market

3003 Aluminium:

The following are the details of 3003 aluminium:

1. This is pure form of aluminium.
2. Manganese is added to the metal to increase the strength.
3. This is an alloy consisting of 1.2% Manganese, 0.12% Copper, and 98.6% Aluminium.
4. This grade of aluminium is not corrosion resistant.
5. This is used for manufacturing pot lids and cooking utensils.
6. Not capable of withstanding high temperature.

6061 Aluminium:.

The following are the features of 6061 aluminium:

1. This grade of aluminium is also known as ‘The Workhorse Aluminium’.
2. Resistant to corrosion.
3. Features high welding properties.
4. Can withstand high level of wear and tear.
5. Suitable for using in high level of humidity.

1100 Aluminium:

Here is the list of significant features and various details about 1100 aluminium:

1. This grade of aluminium is commercially available 99% pure aluminium.
2. This has high ductility and workability.
3. Does not harden when heated.
4. Features corrosion weldability and resistance.
5. High thermal conductivity.
6. High versatility that helps in shaping it different products and shapes.
7. Used in industrial sector, such as plumbing and lighting, manufacturing cooking utensils, rivets, etc..

Factors Affecting Price of Aluminum

The following are the factors influencing the cost of aluminum for one kilogram:

Electricity cost - The availability of electricity impacts the price of aluminum. One month of aluminum production adds around 1.38 million kWh of electricity. According to the U.S. Aluminum Trade Groups, 30% of the price of aluminum constitutes the cost of electricity.

Events related to commodity - Various events related to the commodity impact the cost of the metal, such as strikes at Bauxite mines and aluminum mills affect the supply of the metal, which eventually influences the overall cost.

Global demand - Globalisation impacts the consumption and metal production which influences the price of the metal. Any relevant event related to the demand, supply, and consumption in a country account for the price of the metal, either in a negative or a positive way.

Industrial trend - The technological advancement and the rise in the demand for the metal in various sectors, such as packaging, machinery, refrigeration, construction, and many more, impacts the cost of aluminium. Upgrading the production process reduces the cost of manufacture which also impacts the overall price of the metal.

World economy - The deflation, recession, trade restriction, and other events impact the world economy which eventually affects the demand for the metal. Any fluctuation in the demand and supply of aluminium impacts the overall price of the metal.

International trade - International trade rules plays a major role in deciding the overall price of aluminium. The international trade agreements set forth various resource extraction norms that decide the trade policies and eventually affect the material distribution across the globe.

Disturbances caused due to weather - Climatic changes or disturbances in the weather affect the transportation of aluminium and also impact the production of the material, which in turn influences the overall cost of aluminium.

Mining and material processing cost - Aluminium does not exist in pure form and hence, mining and material processing of the metal involves chemical refining using alumina. The entire process also involves a significant amount of energy production, which impacts the overall price of the metal.

Features or Benefits of Aluminium

The following are the features and benefits of aluminium:

• Corrosion resistance - The metal has anti-corrosive properties due to its natural ability of generating protective thin oxide coating. This coating prevents metal from getting into further contact with the environment, thereby making it corrosion resistant.
• Reflectivity - Aluminium is an ideal material to be used as reflector such as rescue blanket or light fitting, as it has a natural ability of reflecting visible light.
• Odourless and impermeability - Due to the odourless property of the metal, aluminium is used in sensitive food packaging of food and pharmaceutical products. The metal is impermeable and durable which keeps packaged items such as food or medicine safe from external taste or smell.
• Non-brittle at low temperatures - The tensile strength of the metal increases when its temperature decreases, so the metal is considered suitable over steel, which turns brittle rapidly at low temperatures.
• Recyclability - Aluminium is a cost-effective metal as it can be recycled to be produced identical to its virgin product.
• Non-toxic - Aluminium is non-toxic in nature due to which the metal is used for manufacturing wok, pressure cookers, and other cooking utensils as it does not contaminate the food.
• Shock and sound absorption - Aluminium is ideal for constructing ceiling and auto bumper as the metal is a good shock and sound absorber.
• Non-sparking - The metal is safe to be used with non-ferrous metal, as it does not produce spark when brought in contact with itself or other non-ferrous metal.
• Non-magnetic - Aluminium is ideal for using as an electrical shield in dish antennas, computer disks, magnet housings, and others due to its non-magnetic properties.
• Lightweight - Aluminium is used for various purposes, such as in vehicles to reduce dead weight and energy consumption, as it is very light. Due to this property, it also enhances the comfort level in the vehicle and minimises the noise level.
• Ductility - Aluminium is used in manufacturing various products such as rods, wires, tubes, sheets, foils, or other materials due to its ductility. The metal has a low melting point and density and features a ductile property which makes it easier to process various products in its molten state.
• Thermal and electrical conductivity - Aluminium is ideal to be used in major power transmission lines as it is twice as good a conductor as copper and is also used in LED lights, computer motherboards, etc.

How are Rates Decided?

The rate of aluminium is determined by the supply of the metal and demand for the metal in the market. The increasing supply rate from world’s largest producers and rising demand for the metal impacts the price of aluminium positively.

Why and How to Invest in Aluminium?

Aluminium is a versatile metal with a host of features that makes it one of the suitable metals to be used in various industrial sectors. Due to its versatility, the demand for the metal witnesses an inclining trend which influences the price, making it one of the preferred investment options.

Aluminium is a tempting investment option, where you can invest in through the stock market and futures market, and ETFs (Exchange Traded Funds).

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