The price of Aluminum is influenced by a variety of factors, including supply and demand dynamics, production costs, and global economic conditions. The availability of aluminum from mining and recycling affects prices. Disruptions in supply, such as political instability in producing countries or trade sanctions, can lead to price increases. Aluminum is widely used in various industries, and demand from sectors like construction, automotive, and packaging can drive prices up or down.

Aluminum ingots are usually rectangular, cylindrical, or trapezoidal in shape, depending on the casting molds used. The size of an ingot can vary, but they are typically large and heavy, weighing several kilograms or even tons. The surface of an aluminum ingot is smooth and may have markings or identification symbols, such as the manufacturer's logo or specific alloy information. Aluminum ingots serve as a starting point for various downstream processes to manufacture aluminum products. They can be melted down and cast into different shapes, such as sheets, plates, bars, rods, or extrusions, based on the intended application.

Aluminum ingots are often alloyed with other elements, such as copper, magnesium, zinc, or silicon, to enhance specific properties. Alloying allows for the customization of aluminum's characteristics, such as strength, hardness, corrosion resistance, or heat resistance, to suit specific industrial needs. Aluminum and its alloys find extensive use in industries like automotive, aerospace, construction, packaging, electrical engineering, and more. The ingots act as the raw material for manufacturing parts, components, structures, and various products in these sectors. Aluminum is highly recyclable, and aluminum ingots can be produced from recycled aluminum scrap. Recycling aluminum requires significantly less energy (around 5% of the energy required for primary production) and helps conserve natural resources while reducing emissions.

Recycling facilities melt aluminum scrap to produce molten metal, which is then cast into ingots. The recycled aluminum can be mixed with primary aluminum to achieve the desired alloy composition. The monetary value of aluminum ingots is affected by some issues, which are discussed below:

• Size and dimensions of ingot construction and design
• The type of alloy used in the ingot.
• The thickness that is considered in the production stages.
• Final weight
• Aluminum prices in the Metals market
• Exchange rates in the global market
• Aluminum alloys

Aluminum alloys are alloys with metallic properties and contain 90-96% aluminum and one or more other metals that will improve the properties of aluminum. In addition to the main alloying elements, these alloys also contain several minor alloying elements that have a great impact on the final properties of the alloy. Although many metals form alloys with aluminum, few of these elements have good solubility in aluminum for being the main alloying elements, with only zinc, magnesium, copper, and silicon being highly soluble. One-piece ingots are usually made of metals that are made of almost pure materials. Ingots are used in suitable rectangular shapes for further processing. In steelmaking, the first step among semi-finished casting products is ingots. These types of ingots generally include the following:

• 50-pound bullion
  This type of aluminum ingot is made of aluminum alloys, which is used in the automotive industry as well as in manufacturing cast parts.
• 1000-pound bullion
  The purity of this type of ingot is 99.85%, so it is very pure. 1000 1,000 ingots are used to make alloys, parts, and sanitary ware.
• Aluminum Slabs 
  Slab ingots, which are usually produced in sizes of 300 * 1060 and 270 *1060 square millimeters, are used to produce various types of coils, belts, sheets, and the like.
• T-bar Ingots
  T-bar ingots are made of pure E.C. alloy and are used in the manufacture of home appliances, cables, and the like. T-bar is generally used to produce electrical conductors.
• Billet Ingots
  This ingot is mostly used in the extrusion industry and can be produced in different diameters that meet international AA standards

Aluminum is extracted from Bauxite ore through a process called the Bayer process. This involves crushing the ore, dissolving it in sodium hydroxide, and precipitating aluminum hydroxide. Aluminum hydroxide is then heated to remove water, resulting in alumina (aluminum oxide). The alumina undergoes electrolysis in a smelting cell, using a process called the Hall-Héroult process, to separate the aluminum from the oxygen. The molten aluminum obtained from the electrolysis process is poured into molds or casts to form aluminum ingots. The molds are typically made of Steel and designed to shape the molten Metal into a specific size and shape.

Aluminum smelting is energy-intensive, and fluctuations in energy prices can significantly impact production costs and, consequently, aluminum prices. The cost of raw materials, such as bauxite and alumina, also affects aluminum prices. Global Economic Conditions: Since aluminum is traded in USD, changes in currency exchange rates can affect its price. Economic growth in major consuming countries like China can increase demand for aluminum, pushing prices higher. Traders' expectations about future supply and demand can influence aluminum prices through futures contracts. As of the latest available data, the price of aluminum is $2,614.67 per tonne, which represents a 15.23% increase over a selected period. It's important to note that these prices are subject to change based on the aforementioned factors.