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Aluminum Price in 2021

In 2021, the price of aluminum averaged $2,473 per tonne, up 45.1% from the year before. This page covers the 2021 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

2021 Average

$2,473

LME annual average, USD/tonne

Change vs 2020

+45.1%

from $1,704 in 2020

What happened to the aluminum price in 2021

Aluminum averaged $2,473 per tonne in 2021, climbing 45.1% from the $1,704 average of 2020. The defining story of 2021: Post-pandemic energy-cost rebound.

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 2021 average of $2,473 equals about $2,941 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 2021?
Aluminum averaged $2,473 per tonne in 2021, based on World Bank and LME annual average data. That average was up 45.1% from $1,704 in 2020.
What is a 2021 aluminum price worth in today's dollars?
Adjusted with the US Consumer Price Index, aluminum's 2021 average of $2,473 works out to roughly $2,941 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 2021?
The defining story of 2021: Post-pandemic energy-cost rebound. Against that backdrop, the annual average climbed 45.1%, from $1,704 in 2020 to $2,473.

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.