Superalloy prices increased across most grades on Thursday despite dropping LME nickel prices that could impact Inconel grades moving forward.
The weekly Davis Index for Hastelloy C remained at $4.45/lb for single truckload delivered processor yard and increased by slightly over half-a-penny to $3.04/lb delivered for Hastelloy X.
The index for Inconel 600 rose to $3.99/lb from $3.92/lb delivered processor yard while Inconel 601 climbed to $3.14/lb from $3.06/lb delivered. Inconel 617 increased by half a penny to $3.09/lb delivered processor yard while Inconel 625 Vac surged by 1.3¢/lb to $3.48/lb delivered. The index for Inconel 718 Vac inched up to $3.05/lb from $3.04/lb delivered processor yard on Thursday.
The official LME nickel cash contract closed Thursday at $15,135/mt, down by $523/mt from Wednesday.
Superalloy processor buying prices increased this week due to the rise in the LME nickel market. However, with LME nickel prices trending south on Thursday, some market participants expect Inconel prices to drop as well if LME nickel continues to slide. Market participants also remain uncertain over the short- to medium-term trends in the market given the upcoming US elections that might further slow it down leading to a drop in prices.