A novel method for producing a ceramic phase particle dispersoid in metal and a novel product composed thereof. The method includes (a) providing a molten composition consisting essentially of molten aluminum alloy containing molten metal selected form the group consisting of Zr, V and combinations thereof; (b) providing a chloride salt containing fine carbon particles; and (c) reacting the chloride salt containing fine carbon particles in the molten aluminum metal liquid with the molten metal liquid to form a uniform distribution of finely sized carbide particles formed and dispersed in-situ in an aluminum alloy matrix.