I had the belief that aluminum is basically solid electricity, and was prompted to check it today.
Primary (smelting, not recycling) aluminum production is 15 MWh/Mg https://international-aluminium.org/statistics/primary-aluminium-smelting-energy-intensity/
Good industrial electricity price is 0.1 USD/kWh: https://www.electricchoice.com/electricity-prices-by-state/
Bulk aluminum is around 2600 USD/Mg: https://www.intratec.us/solutions/primary-commodity-prices/commodity/aluminum-prices
If you multiply the power by the energy price that's 1500 USD/Mg, so indeed more than half of the price of aluminum is just the electricity to make it. (1500/2600≈60%)