Superalloy prices followed the rise of LME nickel to increase slightly across all grades on Thursday.
The weekly Davis Index for Hastelloy C increased on Thursday to $4.45/lb for single truckload delivered processor yard from $4.44/lb delivered, and rose for Hastelloy X to $2.98/lb delivered from $2.92/lb delivered.
The index for Inconel 600 rose to $3.92/lb delivered processor yard from $3.83/lb delivered and Inconel 601 climbed to $3.06/lb delivered from $3.02/lb delivered. Inconel 617 increased by half-a-penny to $3.04/lb delivered processor yard while Inconel 625 Vac inched up to $3.35/lb delivered from $3.29/lb delivered. The index for Inconel 718 Vac rose to $3.04/lb delivered processor yard from $3.02/lb delivered on Thursday.
The official LME nickel cash contract closed Thursday at $15,120/mt, up by $86/mt from Wednesday.
Superalloy prices have risen this week on the increases in LME Nickel prices. However, some market participants believe these are short-term gains and expect superalloys prices to drop as the market enters the fourth quarter a period when prices are prone to remain unchanged or fall.