Current Ingot Prices

The given Ingot prices are compiled from pricing lists from various manufacturers and worldwide metal market data. Ingot prices are updated regularly and are solely for reference.

About Ingot

Ingot

An ingot is a piece of relatively pure material, typically a metal, that has been cast into a convenient shape for storage, transportation, and further processing. Ingots are typically rectangular or cylindrical in shape, and they can range in size from a few pounds to several tons. They're essential in industries ranging from manufacturing to construction and are produced from metals like aluminum, gold, silver, copper, and steel.

It's often created by pouring molten metal into a mold and allowing it to cool and solidify. Ingots serve as raw material for various metalworking processes like forging, rolling, or extrusion to create finished products.

Ingots are used for a variety of purposes, including:

  •         Storing and transporting precious metals: Gold, silver, and other precious metals are often stored and transported in the form of ingots. This is because ingots are a convenient and secure way to store these valuable materials.
  •         Manufacturing: Ingots are also used as a starting point for many manufacturing processes. For example, steel ingots are used to make a wide variety of products, including cars, appliances, and construction materials
  •         Refining: Ingots can also be used to refine metals. This involves removing impurities from the metal to improve its quality.

There are many different types of ingots, made from a variety of metals. Some of the most common types of ingots include:

  •         Gold ingots: Gold ingots are typically made of 99.5% pure gold. They are often used as a store of value and can be traded on the market.
  •         Silver ingots: Silver ingots are typically made of 99.9% pure silver. They are also used as a store of value and can be traded on the market.
  •         Steel ingots: Steel ingots are made from a variety of different alloys of iron and carbon. They are used to make a wide variety of products.
  •         Aluminum ingots: Aluminum ingots are made from 99.7% pure aluminum. They are lightweight and corrosion-resistant, making them a popular choice for a variety of applications.
  •         Copper ingots: Copper ingots are made from 99.9% pure copper. They are used in a variety of electrical and plumbing applications.

Ingot Origin And Distribution

Ingots are a fundamental part of modern metallurgy, serving as the starting point for a vast array of essential materials. Their origins can be traced back to the dawn of metalworking, with the earliest known ingots dating back to the Bronze Age, around 3000 BC. These early ingots were primarily made of copper and tin alloys, known as bronze, and were shaped using rudimentary casting techniques.

Ingot Uses

Ingots are typically used in the production of various metal products such as sheet metal, wire, and tubing. They are also used in the manufacturing of parts for machinery and equipment. The automotive and aerospace industries use ingots extensively to create components and parts for their vehicles. Ingots can serve as an intermediate stage in the refining and purification process of metals. By melting and casting impure metal, impurities can be removed, resulting in a purer ingot suitable for further processing. Ingots are often used to produce components for machinery and equipment, such as gears, shafts, and toolholders. The specific type of ingot used depends on the required strength, durability, and other performance requirements of the component.

Ingot Producing Countries

Following are the major Ingot producing countries in the world:

  1.       China
  2.       India
  3.       Japan
  4.       United States
  5.       Russia
  6.       South Korea
  7.       Turkey
  8.       Germany
  9.       Brazil
  10.    Iran

Ingot Importing Countries

  1.       Vietnam
  2.       Turkey
  3.       Italy
  4.       Taiwan
  5.       Germany
  6.       United States
  7.       Thailand
  8.       Mexico
  9.       Indonesia
  10.    Poland

Ingot Production

World crude steel production in 2022 was 1.919 billion tonnes, a 4.3% increase from 2021. China remained the world's largest crude steel producer in 2022, with an output of 1.053 billion tonnes, accounting for 55% of global crude steel production.

India was the second largest producer, with an output of 130.5 million tonnes, followed by the United States with 87.2 million tonnes. Japan, Russia, South Korea, Turkey, Germany, Brazil, and Iran were the next largest producers, with outputs ranging from 67.4 million tonnes to 28.8 million tonnes.

The top 10 crude steel producing countries in 2022 accounted for 87% of global crude steel production. These countries are the backbone of the global steel industry and play a vital role in the global economy.

Steel ingots: Iran produced 22.54 million tons of steel ingots in the previous Iranian calendar year. In 2019, Iran produced 31.9 million tons of steel ingots. In 2022, the world's top 64 crude steel producers produced 1.787 billion tons.

Aluminum ingots: Iran produced 632,166 tons of aluminum ingots in the year ending March 20.