Aluminum Price in 2022

In 2022, the price of aluminum averaged $2,705 per tonne, up 9.4% from the year before. This page covers the 2022 average, high, low, and year-end close, the events that moved the market, and what that aluminum would be worth in today's dollars.

2022 Average

$2,705

LME annual average, USD/tonne

Change vs 2021

+9.4%

from $2,473 in 2021

What happened to the aluminum price in 2022

Aluminum averaged $2,705 per tonne in 2022, up 9.4% from $2,473 the year before. The notable development of 2022: March intraday record ~$3850-4000 after Russia invades Ukraine; annual avg matches ~$2700 anchor.

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 2022 average of $2,705 equals about $2,979 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 2022?

Aluminum averaged $2,705 per tonne in 2022, based on World Bank and LME annual average data. That average was up 9.4% from $2,473 in 2021.

What is a 2022 aluminum price worth in today's dollars?

Adjusted with the US Consumer Price Index, aluminum's 2022 average of $2,705 works out to roughly $2,979 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 2022?

The defining story of 2022: March intraday record ~$3850-4000 after Russia invades Ukraine; annual avg matches ~$2700 anchor. Against that backdrop, the annual average climbed 9.4%, from $2,473 in 2021 to $2,705.

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.