What’s the price of aluminum?
What is the price of scrap aluminum?
What is the price range of aluminum? These are the topics that many people related to the aluminum industry pay the most attention to. Almetals is collected and organized in this article today.
So, let’s start with the most popular questions.
How much is aluminum per pound?
As with most materials, there are varying prices that some people are willing to pay for aluminum. So, how much is aluminum per pound?
“In 2022, the average market spot price for aluminum ingot is 85 cents per pound.”
Knowing the trending price of aluminum can help professionals such as ship breakers and those in the construction industry get the best deal on recycling.
What is the price range of aluminum?
Today, aluminum prices occupy a range of around 0.35 cents per pound. Ogólnie, the aluminum price is on the rise, but the price fluctuates greatly from month to month. As the sales volume of scrap aluminum rises and falls, the price also rises and falls. While aluminum is always afloat, it’s a steady investment of time and effort (unlike precious copper).
What affects the price per pound of aluminum?
There are several different factors that ultimately play a role in the price per pound of aluminum. Oczywiście, one of the most important factors is where and how to sell.
One of these factors is the weather. In winter, aluminum usually sells for less. That’s because of a number of factors, including shipping difficulties, busy holiday seasons, and fewer construction projects in cold weather, so less scrap metal is found outside.
Interestingly, the price of aluminum is also highly dependent on electricity costs.
“The price of aluminum is largely determined by the price and availability of electricity. The Alcoa trade group estimates that electricity costs 30% of the total price of aluminum. In China, electricity consumption is close to 45% of the price of aluminum. It is used for production Aluminum costs nearly 2% of global energy production in electricity costs.”
At this time, industries that require aluminum, such as construction, are more active. Jednakże, aluminum has remained relatively stable due to its use in manufacturing, consumer goods and transportation. Jednakże, a small increase in demand means higher prices for your aluminum.