Aluminum Price in 1989
In 1989, the price of aluminum averaged $1,951 per tonne, down 23.5% from the year before. This page covers the 1989 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.
1989 Average
$1,951
LME annual average, USD/tonne
Change vs 1988
-23.5%
from $2,550 in 1988
What happened to the aluminum price in 1989
Aluminum averaged $1,951 per tonne in 1989, sliding 23.5% from the $2,550 average of 1988.
A deep early-1980s recession pulled aluminum back below $1,000, before a late-decade supply squeeze from capacity closures and depleted inventories spiked it to a then-record near $2,550 in 1988.
Adjusted for inflation, aluminum's 1989 average of $1,951 equals about $5,071 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 1989?
What is a 1989 aluminum price worth in today's dollars?
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.