Aluminium Alloy Ingot Prices, Monitor, Analysis & Demand

North America

The North American Aluminium Alloy Ingot market faced challenges in Q4 2023 due to various factors, resulting in a slight declining trend in December. Firstly, the demand for Aluminium Alloy Ingot remained moderate, with buyers taking a cautious approach amidst uncertain economic conditions. Secondly, the Inflation Reduction Act (IRA) that aimed to boost the renewable energy sector fell short of expectations, limiting demand for Aluminium ingots in the American market.

Finally, the inventory level fluctuated due to recent construction deals that are expected to boost the utilization of Aluminium Ingots in the US spot market. The USA experienced a decline in Aluminium ingot prices during the initial week of October, while the final week of September saw an upswing driven by increased demand from the automotive and housing sectors.

The correlation price percentage for the USA in Q4 2023 was 1.1%, and the percentage change from the previous quarter was 2%. There was no plant shutdown observed in the USA during this period. The price percentage comparison of the first and second half of the quarter for the USA was 10%. The latest price of Aluminium Alloy Ingot (A383) DEL Alabama in the USA for Q4 2023 was USD 3679/MT.

Asia-Pacific

The APAC region's Aluminium Alloy Ingot Prices in the fourth quarter of 2023 witnessed notable changes and developments. The market was primarily influenced by factors such as limited supply, increased demand from the automotive and construction sectors, and disruptions in the bauxite supply chain.

These factors led to a surge in prices, with Japan being the most affected country in the region. The scarcity of crucial materials like Bauxite became evident due to restricted imports from major mining countries, and disruptions in the Panama Canal route negatively impacted supply from key producers. As a result, lead times were extended, and freight charges increased. On the demand side, the automotive and construction sectors experienced strong growth, leading to increased scrap imports and positive market sentiment.

The implementation of government policies and deals further supported the rising demand in the domestic market. In Japan, the price of Aluminium Alloy Ingot (ADC 12) Ex-Tokyo reached USD 2545/MT in the fourth quarter. This represents a 2% increase compared to the previous quarter and a significant 81% increase compared to the same quarter of the previous year. The price trend in Japan remained bullish throughout the quarter, driven by factors such as increasing demand, rising energy costs, and a decline in domestic supply. Overall, the APAC region experienced a dynamic and robust Aluminium Alloy Ingot market in the fourth quarter of 2023.

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Europe

The fourth quarter of 2023 was challenging for the Aluminium Alloy Ingot market in Europe. The market witnessed a robust balance between demand and supply, maintaining a consistently stable environment. The anticipation of an increase in federal interest rates was seen as a positive catalyst, expected to enhance the overall economic landscape and boost market demand.

Despite initial concerns about weak economic conditions and a sluggish demand outlook affecting infrastructure projects, the delay in improvements surprisingly did not significantly impact the demand for Aluminium Alloy ingots. Remarkably, government initiatives aimed at fortifying the downstream construction sector played a crucial role in keeping Aluminum Alloy Ingot prices resiliently elevated.

In Germany, the market experienced notable positive shifts in pricing, driven by a healthy balance of demand and supply. The overall market situation remained steadfast with ample supply levels. The downstream automobile manufacturing industries continued to enjoy stability in demand, even amid lower supply rates. Optimism prevailed in the market, fueled by the perceived positive impact of potential federal interest rate increases by the European Central Bank. This outlook contributed to a buoyant market trend, showcasing resilience and potential for growth. The latest price of Aluminium Alloy Ingot (A380) FD-Willich in Germany for the last quarter was USD 3189/MT.

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