Aluminum Price in 1998

In 1998, the price of aluminum averaged $1,357 per tonne, down 15.1% from the year before. This page covers the 1998 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

1998 Average

$1,357

LME annual average, USD/tonne

Change vs 1997

-15.1%

from $1,599 in 1997

What happened to the aluminum price in 1998

Aluminum averaged $1,357 per tonne in 1998, sliding 15.1% from the $1,599 average of 1997. The notable development of 1998: Asian financial crisis weakness.

The 1990s were mostly weak, with post-Soviet metal flooding the market and the 1997-98 Asian financial crisis capping demand; aluminum spent the decade largely between $1,250 and $1,800.

Adjusted for inflation, aluminum's 1998 average of $1,357 equals about $2,683 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 1998?

Aluminum averaged $1,357 per tonne in 1998, based on World Bank and LME annual average data. That average was down 15.1% from $1,599 in 1997.

What is a 1998 aluminum price worth in today's dollars?

Adjusted with the US Consumer Price Index, aluminum's 1998 average of $1,357 works out to roughly $2,683 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 1998?

The defining story of 1998: Asian financial crisis weakness. Against that backdrop, the annual average fell 15.1%, from $1,599 in 1997 to $1,357.

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.