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Aluminum Price in 2020

In 2020, the price of aluminum averaged $1,704 per tonne, down 5.0% from the year before. This page covers the 2020 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

2020 Average

$1,704

LME annual average, USD/tonne

Change vs 2019

-5.0%

from $1,794 in 2019

What happened to the aluminum price in 2020

Aluminum averaged $1,704 per tonne in 2020, down 5.0% from $1,794 the year before. The notable development of 2020: COVID-19 demand shock low.

After a COVID low near $1,700, aluminum surged to an all-time high around $4,073 intraday in March 2022 on Europe's energy crisis and the war in Ukraine, then settled back, with tariffs and supply shocks keeping it elevated.

Adjusted for inflation, aluminum's 2020 average of $1,704 equals about $2,122 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 2020?
Aluminum averaged $1,704 per tonne in 2020, based on World Bank and LME annual average data. That average was down 5.0% from $1,794 in 2019.
What is a 2020 aluminum price worth in today's dollars?
Adjusted with the US Consumer Price Index, aluminum's 2020 average of $1,704 works out to roughly $2,122 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 2020?
The defining story of 2020: COVID-19 demand shock low. Against that backdrop, the annual average fell 5.0%, from $1,794 in 2019 to $1,704.

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.