Aluminum Price History: Monthly Global Price Since 1992

Aluminium is the second most-used metal after steel, central to transport, packaging, construction, and the energy transition. It is among the most electricity-intensive commodities to produce — smelting is essentially “congealed electricity” — so its price is unusually sensitive to power costs. This dataset tracks the IMF Primary Commodity Prices benchmark, the LME aluminium cash price, published monthly in US dollars per metric ton and distributed via FRED under the code PALUMUSDM, with continuous coverage since 1992. China produces over half of world output.

Dataset: Aluminum Price (1992–2026) · Updated 2026-03-01

Source: IMF Primary Commodity Prices · International Monetary Fund (via FRED)

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV and Excel files contain the following columns. Each row represents one calendar month.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full dataset is available in CSV and Excel formats — monthly observations covering more than three decades.

FRED Direct CSV Access

The underlying data is published in the Federal Reserve Economic Data (FRED) database under the series code PALUMUSDM, sourced from the IMF Primary Commodity Prices dataset:

https://fred.stlouisfed.org/graph/fredgraph.csv?id=PALUMUSDM

The Eco3min dataset mirrors the same monthly series, packaged in a stable, versionable CSV with consistent column names — designed for direct ingestion in Python, R, or any data pipeline. The URL never changes, making it suitable for automated scripts.

Direct CSV Access — Eco3min Structured Dataset

https://eco3min.fr/dataset/aluminum-price.csv

This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/aluminum-price.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.head())
print(df["aluminum_price"].describe())

df.plot(x="date", y="aluminum_price", title="Aluminum Price", legend=False)

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/aluminum-price.csv"
df <- read_csv(url)

head(df)
summary(df$aluminum_price)

Both examples load the dataset directly from the URL — no download or API key required.

Methodology

The IMF reports the aluminium price in US dollars per metric ton, based on the London Metal Exchange (LME) cash price for 99.5% minimum purity.

Values are monthly averages, which smooth the intra-month swings visible in daily futures and physical quotes. The series begins in 1992.

This dataset is updated monthly via an automated pull from the FRED API (series PALUMUSDM) by an Eco3min pipeline running on GitHub Actions, which regenerates the cleaned CSV and Excel files and refreshes the page metadata.

Data Quality & Provider Notes

The IMF/benchmark price is a widely cited physical-market reference. A few provider-specific points matter when using this series.

• Release latency. The IMF publishes Primary Commodity Prices monthly, typically in the first week of the following month. FRED ingests the update shortly after, and Eco3min mirrors it with a monthly pull. The series is not a real-time price.
• Monthly average vs futures spot. This series is a monthly average. It will differ from any single exchange settlement, and a monthly average necessarily understates intra-month peaks.
• Revisions. Prices are market-derived and not subject to the vintage revisions of survey-based macro series, though the IMF can restate recent observations.
• Alternative sources. ICE futures and the originating auction or indicator bodies provide higher-frequency or contract-specific quotes.

Common Pitfalls When Using This Series

1. Confusing nominal and real prices. This series is nominal. Comparing an early-1990s reading to a recent one without adjusting for cumulative inflation overstates the real change. Deflating by CPI gives the true purchasing-power move.
2. Reading the monthly average as a market price. Headlines quote exchange futures; this dataset reports the monthly benchmark average. The two diverge most during fast-moving rallies.
3. Unit confusion. This series is the LME cash price in US dollars per metric ton; US transaction prices add a regional Midwest premium, and SHFE (Shanghai) quotes differ.

Historical Regimes

1992–2003 — Low and cyclical. Growing smelter capacity kept aluminium in a low range.

2004–2008 — China boom. Surging Chinese demand and high energy costs lifted aluminium to a then-record near $3,300 per ton in 2008.

2009–2020 — Surplus and range. Massive Chinese smelting capacity kept prices range-bound despite cost pressure.

2021–2022 — Energy-crisis record. Europe’s energy crisis idled smelters and Russia’s invasion threatened Rusal supply, driving aluminium to an all-time high near $3,850-4,000 per ton in March 2022.

2023–2026 — Normalisation. Easing energy prices and steady Chinese supply pulled prices back.

Related Macroeconomic Datasets

Commodity Price Hub

This dataset is part of the Eco3min commodity price repository — energy, metals, agricultural softs, and grains, all sourced from IMF Primary Commodity Prices via FRED.

Explore the Commodity Price Hub

Sources

• International Monetary Fund — Primary Commodity Prices, Global Price of Aluminum
• Federal Reserve Bank of St. Louis — FRED database, series PALUMUSDM
• London Metal Exchange (LME) cash settlement — basis underlying the IMF series

Dataset Reference

Eco3min Research. (2026). Aluminum Price — Global Monthly Price (1992-2026). Source: IMF Primary Commodity Prices via FRED.<br> https://eco3min.fr/en/aluminum-price-history-dataset/