Aluminum Price in 2004

In 2004, the price of aluminum averaged $1,716 per tonne, up 19.9% from the year before. This page covers the 2004 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

2004 Average

$1,716

LME annual average, USD/tonne

Change vs 2003

+19.9%

from $1,431 in 2003

What happened to the aluminum price in 2004

Aluminum averaged $1,716 per tonne in 2004, climbing 19.9% from the $1,431 average of 2003. The notable development of 2004: Start of China-driven commodity supercycle.

The China-led supercycle lifted aluminum past $2,600 by 2006-2008 before the 2008 financial crisis crashed it to around $1,665 in 2009.

Adjusted for inflation, aluminum's 2004 average of $1,716 equals about $2,928 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 2004?

Aluminum averaged $1,716 per tonne in 2004, based on World Bank and LME annual average data. That average was up 19.9% from $1,431 in 2003.

What is a 2004 aluminum price worth in today's dollars?

Adjusted with the US Consumer Price Index, aluminum's 2004 average of $1,716 works out to roughly $2,928 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 2004?

The defining story of 2004: Start of China-driven commodity supercycle. Against that backdrop, the annual average climbed 19.9%, from $1,431 in 2003 to $1,716.

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.