Aluminium Ingot Prices Trend and Forecast

In the final quarter of 2022, the Aluminium Ingot prices showcased an up-swinging trend in the US market owing to the limited availability of the product caused by continued tightness in the material's availability. According to manufacturers, the leading cause of this tightness was transportation bottlenecks forced by a lack of containers, shippers, and truck drivers, as well as long wait times at ports and other transportation hubs. In October, the headwinds such as US and LME will ban Russian Aluminium had surged the prices for Aluminium Ingot. However, in mid-Q4, the Aluminium Ingot prices edged down amidst the Thanksgiving holiday. Some market participants cite that the benchmark aluminium premium for Russian and non-Russian Aluminium continued to diverge, especially given renewed market speculation that the US may ban Russian Aluminium. Alcoa, the largest US aluminium producer, had warned investors that high energy and raw material costs and a drop in aluminium prices were putting pressure on margins.

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