Monel Price Trend and Forecast

Regional Market Overview

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

Monel Price Trend for the October - December of 2023

Asia

The Indonesian mining sector played a significant role in dictating the trajectory of monel prices during the fourth quarter of 2023. In China, opposite to what traders would have expected, the pace of downstream EV batteries and stainless-steel industries slowed down as the fumbling economic activities disturbed the overall functioning of the market. In addition to this subdued demand, the excessive supply of nickel suppressed the growth potential of the monel price graph.

Monel Price Chart

Monel Price Trends and Forecast

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Europe

The last quarter of 2023 witnessed a significant reduction in nickel and, in turn, monel procurement as a result of a sudden avalanche in the downstream battery and stainless-steel industries. Excessive mining activities around the world led to a boom in world nickel supply, and therefore, the decline in Europe's monel price trend was based on this surplus supply. Further, Germany's plans to achieve 100% electric vehicles also faced several roadblocks due to a decline in the automotive sector's demand that was eventually visible in the downfall of monel price trend.

North America

In the final quarter of 2023, the rapid momentum of the battery metals industries slowed down as increased supply surpassed demand. The decline in nickel and crude oil costs contributed to negative trend in monel prices. Furthermore, the manufacturing sector faced challenges from the rising prices of other exclusive industrial metals like lithium, impeding overall growth and impacting the upward trajectory of monel prices.

Analyst Insight

According to Procurement Resource, the price trend of Monel are estimated to bear the consequences of surplus mining activities in the Asia-Pacific region and slow but steady demand from the downstream automotive industries.

Monel Price Trend for the July-September of 2023

Asia

The excess influx of nickel on account of rise in mining activities in the Asia Pacific countries resulted in the surge in the inventories and fall in the Monel price trajectory. The decline in the Monel prices was also escalated on account of feeble demand from the automotive and construction sector as these industries faced several economic challenges. The worsening economic conditions and hike in interest rates not only hampered the functioning of these industries but also the trading activities. The slump in trade, rise in inflation and slow movement of the manufacturing sector ultimately led to the fall in Monel price trend.

Europe

As opposite to what was observed in the Asian countries, the Monel price trend registered a significant incline in the third quarter of 2023. The prices of Monel surged with the help of positive momentum of the domestic market. The production of eco-friendly equipment surged during the third quarter of 2023 which gave the Monel demand a boost. In addition to this, due to its ability to resist corrosion, the automotive sector showcased significant interest in this industry and helped in the inclination in Monel price trend.

North America

The rise in unemployment and rise in interest rates had an adverse effect on the Monel price graphs. The majority of manufacturing units suffered from the shortage of labor and exponential rise in inflation. Further, the supply of nickel exceeded its demand by several folds and thus caused disbalance in supply-demand equilibria. The performance of the downstream chemical sector also failed to meet traders' expectations, keeping the trajectory of Monel in the red zone.

Analyst Insight

According to Procurement Resource, the price trend of Monel are estimated to trace a southward trajectory as its global market sentiments in the upcoming quarters seems bleak.

Monel Price Trend for the First Half of 2023

Asia

A downward trajectory in the prices of Monel was observed in the first two quarters of 2023. The region was adversely affected by the weak demand from the downstream industries. China was slow in its recovery after the upliftment of covid protocols and reduced production activities due to the Chinese New Year holiday season. In addition, the raw material prices also failed to provide the Monel market with the required support, and manufacturers were thus forced to reduce their production costs, which negatively impacted the Monel price trend.

Europe

In the first and second quarters of 2023, the price trend of Monel showcased a see-saw trend. The fluctuations in the costs of raw materials and limited inquiries from the aerospace and chemical industries hampered the movement of the Monel market. However, the reduction in the cost of energy production and increasing consumption of raw materials supported the slight increase in the prices of Monel. But the weak demand sector countered these factors and ultimately led to a mixed trend in the European region.

North America

In North America, the prices of Monel inclined as the market was supported by the cost of raw materials and consistent demand from the downstream industries. The market struggled a little in January due to sluggish demand and poor sales in regional and overseas markets. The market was also affected by the improvement in supply chain dynamics, reduction in input costs, and the rise in wages. Thus, the prices of Monel increased in the first and second quarters of 2023.

Analyst Insight

According to Procurement Resource, the price of Monel is expected to witness a mixed trend in the coming quarter. The raw materials prices and global market dynamics are estimated to guide the Monel price trend in the upcoming months.

Procurement Resource provides latest prices of Monel. 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 class of nickel-copper alloys called Monel are renowned for their outstanding corrosion resistance and high strength. Monel alloys typically consist of 67–80% nickel and 30–33% copper, with trace amounts of iron, manganese, and other metals. They are perfect for chemical and marine applications since they can withstand a variety of corrosive environments, such as acids, seawater, and alkalis. The strong mechanical qualities of Monel alloys at both low and high temperatures make them adaptable for a variety of applications, including valves, pumps, marine machinery, and aerospace parts.

Product Details

Report Features Details
Product Name Monel
Chemical Formula Cu (70%) + Ni (30%)
Industrial Uses Ship building, Chemical processing, Oil and gas industry, Engine parts, Electrical connectors
HS Code 75022020
Supplier Database Arcelor Mittal, Baosteel, JFE Steel Corporation ,Special metals corporation, Mangellan metals, Renine Metalloys, Continental Steel and tube company
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

The cladding procedure, which is used to permanently superimpose a layer of Monel onto the pipe or tube being processed, is utilized to prepare the alloy. It is accomplished via mechanical or chemical methods that are applied in commercial applications to lessen wear brought on by material corrosion or abrasion. Monel can be clad in a variety of colors, including white, gray, and black.

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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