Superalloys prices inched up across most grades on Thursday on a stronger LME market. The demand for nickel-bearing scrap remains low but is still strong enough to respond to the increase in the nickel market.
The weekly Davis Index for Hastelloy C solids increased by 2¢/lb to $4.49/lb delivered processor yard on Thursday and ticked up by 1¢/lb for Hastelloy X solids to $3.04/lb for single truckloads.
The index for scrap Inconel 600 vac solids moved up by a penny to $3.99/lb delivered and increased for Inconel 601 solid by 4¢/lb to $3.23/lb delivered. The Davis Index for Inconel 718 solids inched up by 1¢/lb to $2.86/lb delivered processor yard.
The official LME Nickel cash contract closed Thursday at $15,400/mt, up by $672/mt from $14,728/mt on Oct 8.
Demand from the mills has started slowing down as the market approaches the end of the year. As a result, this week’s price increase is mostly attributed to the rise in the LME nickel market, according to market participants, who observed that while prices have moved up, volumes are lower with less interest from mills.