US Superalloy prices increased on Thursday following the rising need for these alloys to meet the strong demand for stainless steel.
The weekly Davis Index for Hastelloy C rose by 12¢/lb to $6/lb for single truckload delivered processor yard and was up by 7¢/lb for Hastelloy X to $4.17/lb delivered. Inconel 600 grew by 10¢/lb to $5.40/lb while Inconel 601 increased by 7¢/lb to $4.20/lb delivered processor yard.
Inconel 617 Vac moved up by 9¢/lb to $3.83/lb delivered processor yard and Inconel 625 Vac jumped by 22¢/lb to $5.28/lb delivered. The index for Inconel 718 Vac rose by 3¢/lb to $4.08/lb delivered processor yard.
The official LME Nickel cash contract closed Thursday at $18,180/mt, up by $98/mt from $18,082/mt on Jul 1.
Superalloys are filling in for stainless steel due to the strong demand and tight supply of the latter from mills. Moreover, a recovery in the aerospace segment has also pushed up the prices for superalloys. Processors expect superalloy prices to rise further if the demand for stainless steel scrap keeps increasing.