Aluminum Price in 1974

In 1974, the price of aluminum averaged $765 per tonne, up 27.7% from the year before. This page covers the 1974 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

1974 Average

$765

LME annual average, USD/tonne

Change vs 1973

+27.7%

from $599 in 1973

What happened to the aluminum price in 1974

Aluminum averaged $765 per tonne in 1974, climbing 27.7% from the $599 average of 1973. The notable development of 1974: Oil-shock inflation lifts metal prices.

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 1974 average of $765 equals about $5,001 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 1974?

Aluminum averaged $765 per tonne in 1974, based on World Bank and LME annual average data. That average was up 27.7% from $599 in 1973.

What is a 1974 aluminum price worth in today's dollars?

Adjusted with the US Consumer Price Index, aluminum's 1974 average of $765 works out to roughly $5,001 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 1974?

The defining story of 1974: Oil-shock inflation lifts metal prices. Against that backdrop, the annual average climbed 27.7%, from $599 in 1973 to $765.

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.