I would think that the alloy should be cheaper. As I recall the ET for the Space Shuttle was made of an Al-Li alloy for a significant weight reduction. Since such an alloy is available, it strikes me as ingenious to try it in a solid propellant. For decades there has been speculation of using lithium or lithium hydride (beryllium hydride, too) in hybrid or solid rockets. I can find it in my old "Rocket Propulsion Elements", by George Sutton (1963). However, lithium and lithium hydride are too reactive to be a serious contender for practical rocket propellants. The Al-Li alloy must be easy to handle if it could be used as a structural component in the ET.