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Inconel Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Inconel in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Inconel Price Trend for the October - December of 2023

Asia

The bloom in Indonesian mining activities and the rise in their procurement of nickel and other metals resulted in an oversupply of inconel during the initial phase of the last quarter of 2023. However, the region lacked consumption, and with cautionary export to overseas players, the inconel price trend oscillated.

Inconel Price Trends and Forecast

In the latter half of the quarter, Indonesia delayed mining output as it struggled with illegal mining activities. As the market faced supply shortages, steel producers from a number of nations turned to the Philippines for nickel ore, further hampering the inconel price trend. Additionally, weakened inconel demand also resulted from China's economic struggles, primarily in its real estate sector.

This downturn in the Chinese property market led to deflation and several economic challenges whose effect was not only limited to the nickel industry but could be seen in the slowing down of the EV batteries sector.

Europe

The Inconel industry in European countries is regulated by only a few numbers of producers as the domestic demand is well catered for by their production capacities. However, as the industrial sector around the globe has started ditching traditional fuels and has shown considerable interest in the EV batteries sector, the region looked forward to increasing its consumption of nickel and, in turn, inconel.

However, the outlook of automotive and other related downstream sectors did not work in favor of inconel market trend, and as a result, the inconel price trend remained uncertain throughout the fourth quarter of 2023.

North America

The fast-paced battery metals industries seemed to have lost their momentum in the last quarter of 2023 as the surge in supply rates outpaced the demand. Further, the depreciation in the cost of nickel and crude oil during this time also played a significant role in keeping the inconel price trend in the negative zone.

Additionally, the manufacturing sector also seemed under the pressure of an excessive rise in the cost of other industrially exclusive metals such as lithium, which slowed down the pace of growth and thus hampered the surge in inconel price trend.

Analyst Insight

According to Procurement Resource, the price trend of Inconel are expected to inch lower in the upcoming quarter as the global industrial bloom, especially in the automotive sector, will take a little longer to show its effect on inconel prices.

Inconel Price Trend for the July-September of 2023

Asia

Inconel, the superalloy of nickel and chromium, is usually used for mechanical manufacturing of high sophistication like aerospace components, gas turbines, powerplants, nuclear reactors, etc. So, the Inconel market trend are heavily dependent on the consumption by these downstream sectors. The quarter three of 2023 started on a lower note for Inconel.

The long economic and social battle during the peak COVID years put all industrial activities at a standstill. So, when the pandemic restrictions eased last year, the various industrial sectors aimed for a quick return to pre-COVID glory, particularly in China. However, the ingrained fear of social contact kept the pace of market recovery very restricted. And to further complicate the situation, the hikes in global inflation disturbed the international demand outlook as well. So, with feeble demands from both domestic and international markets, the Inconel prices wavered at the lower side of the curve during the given period. An excess of supplies accumulated in inventories over time also pushed the Inconel market trend down. Overall, muted market sentiments were observed.

Europe

Since mechanical manufacturing, especially from the automobile sectors, finally picked up in Europe after a long time since the beginning of the Russia-Ukraine conflict, the market demands for Inconel also rose. This eventually led to an elevation in the Inconel price graph in Europe. Overall, a largely positive market outlook was experienced.

North America

The American Inconel market was heavily influenced by the Asian market since the price trend observed persistent depreciation attributed to the existing supply glut and feeble demands. Overall, bearish market sentiments were observed.

Analyst Insight

According to Procurement Resource, a mixed market dynamic is anticipated for Inconel going forward since both demand and supply outlooks remain uncertain.

Inconel Price Trend for the the First Half of 2023

Asia
                
A mixed trend in the prices of Inconel was observed in the first two quarters of 2023. Initially, the market was significantly affected by the lower production rates due to the onset of the Chinese Lunar New Year holidays, but within the subsequent months, the prices of raw materials inclined that had a positive influence on the price trend of Inconel. However, in Q2, the prices began to decline due to falling raw material costs and reduced demand from the propeller blades and motor sectors.

Europe

The European region witnessed a rise in the demand for raw materials used in Inconel production which drove their prices that in turn had a positive influence on the market of Inconel. Along with this, the increase in demand from overseas buyers, a stable trend in energy production costs, and optimistic sentiments of the European market fueled the growth of the Inconel market in a positive direction.

North America

A stable trend in the prices of Inconel was observed in the North American region. The market for Inconel was affected by the falling spot premiums, dwindling raw materials costs, and fluctuating market sentiments. In addition to this, the purchasing potential of the buyers was also stagnant, and the rising interest rates further added pressure on the Inconel prices.

Analyst Insight

According to Procurement Resource, the price of Inconel is expected to remain uncertain in the upcoming quarter. Given the current trading environment, the demand sector and oscillating costs of raw materials will likely affect the Inconel market.

Procurement Resource provides latest prices of Inconel. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

A series of nickel-chromium-based superalloys known as Inconel is renowned for its excellent resistance to oxidation, corrosion, and high temperatures. In these alloys, nickel and chromium are frequently present in high concentrations, along with small amounts of additional metals including iron, molybdenum, and niobium. Inconel alloys are ideal for severe settings including gas turbine engines, aircraft components, and nuclear reactors because of their exceptional strength and ability to preserve structural integrity at high temperatures.

Their usage in chemical processing, maritime applications, and heat-treating equipment is made possible by their resistance to oxidation and various corrosive fluids. The combination of Inconel's attributes makes it a dependable material under extreme high-temperature conditions.

Product Details

Report Features Details
Product Name Inconel
Chemical Formula (Ni, Cr, Fe)x(Nb, Mo, Ti)y
Industrial Uses Aerospace components, Gas turbines and power generation, Chemical processing, Catalyst support grids, Nuclear reactors
HS Code 75062000
Supplier Database JLC Electromagnet Pvt. Ltd, Wanlutong Metal Group, VDM Metals Group, ATI , Nippon Steel Corporation, Sumitomo Corporation, Haynes International, HY Industry
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

A superalloy called Inconel is mostly made of nickel and chromium. Other metal elements included in it include phosphorus, iron, molybdenum, aluminum, copper, etc. The metal alloy is produced commercially using the powder-bed additive manufacturing technique, which involves employing a heat-producing power source, such as a laser or thermal print head, to transform the metal from powder to a material for three-dimensional structures. Selective laser sintering, electron beam melting, and binder jetting are metal manufacturing processes that can handle Inconel alloy.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

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Subscribe to Unlock Access

  • Price Across Multiple Locations
  • Market Insights
  • Download Data in Excel Format
  • Short Term Price Forecasts
  • Prices of More than 400 Commodities and Utilities

Get in Touch With Us

flag
UNITED STATES

Phone:+1 307 363 1045

flag
INDIA

Phone: +91 1203185500

flag
UNITED KINGDOM

Phone: +44 7537 132103

Email: sales@procurementresource.com

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