The invention relates to the field of 
metallurgy of aluminum-based materials and can be used to produce articles (including welded structures) operated in corrosive environments (humid 
atmosphere, fresh or sea water, and other corrosive environments) and under high-load conditions, including at elevated and cryogenic temperatures. A new, inexpensive, high-strength aluminum 
alloy is provided with high physical and mechanical properties, performance, and 
corrosion resistance, in particular, high mechanical properties after annealing (tensile strength of at least 400 MPa, yield point of at least 300 MPa, and relative elongation of at least 15%) and high performance in deformation 
processing; wherein high performance in deformation 
processing is provided due to the presence of eutectic Fe-containing 
alloy phases, accompanied by increased mechanical properties due to the formation of compact particles of eutectic phases and secondary separation of the Zr-containing phase with the L12 
crystal lattice. The aluminum 
alloy contains 
zirconium, iron, 
manganese, 
chromium, 
scandium, and optionally 
magnesium. It also additionally comprises at least one eutectics forming element selected from the group consisting of 
silicon, 
cerium and 
calcium, wherein the structure of the alloy is an aluminum matrix containing 
silicon and optionally 
magnesium, secondary separations of Al3(Zr,X) phases with the L12 lattice and a size of not more than 20 nm, wherein X is Ti and / or Sc, secondary separations of Al6Mn and Al7Cr, and eutectic phases containing iron and at least one element from the group consisting of 
calcium and 
cerium with an average particle size of not more than 1 μm, with the following 
phase ratio, wt. %:Secondary separations of Al3(Zr,Sc): 0.5-1.0;Secondary separations of Al6Mn and Al7Cr: 2.0-3.0;Eutectic particles containing iron and at least one element from the group consisting of 
calcium and 
silicon: 0.5-6.0;Aluminum matrix: the remainder.