Aluminum Price in 1970

In 1970, the price of aluminum averaged $614 per tonne at the start of the series, before LME aluminium trading began. This page covers the 1970 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

1970 Average

$614

LME annual average, USD/tonne

What happened to the aluminum price in 1970

Aluminum averaged $614 per tonne in 1970, according to World Bank and LME annual average data. This is the first year in our modern aluminum series. Aluminum averaged about $614 per tonne in 1970, years before the LME launched its aluminium contract in October 1978, so early-decade figures are producer and list prices rather than true LME cash quotes. The notable development of 1970: Pre-LME aluminium contract (LME launched Al trading Oct 1978); figure is US/producer list price proxy, not a true LME cash quote.

Aluminum began the 1970s as a low-priced, producer-set metal and rose through the decade's oil-shock inflation from around $600 to $1,600 per tonne, as the LME launched its aluminium contract in 1978.

Adjusted for inflation, aluminum's 1970 average of $614 equals about $5,100 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of aluminum in 1970?

Aluminum averaged $614 per tonne in 1970, based on World Bank and LME annual average data.

What is a 1970 aluminum price worth in today's dollars?

Adjusted with the US Consumer Price Index, aluminum's 1970 average of $614 works out to roughly $5,100 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the aluminum price in 1970?

The defining story of 1970: Pre-LME aluminium contract (LME launched Al trading Oct 1978); figure is US/producer list price proxy, not a true LME cash quote. This is the first year in our modern aluminum series. Aluminum averaged about $614 per tonne in 1970, years before the LME launched its aluminium contract in October 1978, so early-decade figures are producer and list prices rather than true LME cash quotes.

Annual averages are World Bank and LME aluminum prices per tonne in US dollars (LME cash and settlement basis). Values before the LME aluminium contract launched in October 1978 are producer and list-price proxies, and the 2025 figure is preliminary. Where daily data exists, the per-year high, low, and close come from MetalCharts historical data. Inflation adjustments use BLS CPI-U annual averages.