Hastelloy Price Trend and Forecast

North America

In North America, the Hastelloy prices stagnated in the final quarter of 2022 amidst fluctuating demand outlook and raw material prices. Nickel had a turbulent year following the outbreak of the Russia-Ukraine war in February, a short squeeze in March, and the fragmentation of physical nickel forms due to the rapid rise of class 2 and intermediate products. However, the macroeconomic-driven broader economic downturn has delayed the return of absolute stability. The LME decided to maintain the status quo in mid-Q4. Hastelloy producers claim that changes in alloy surcharges and mill raw material costs will be the primary factors influencing Hastelloy prices in 2022. As input demand fell and materials became more readily available at suppliers, inflationary pressures were relieved even further. As a result, Hastelloy C-276 prices for Ex Florida (USA) were fixed in December at USD 135070/MT.

Asia Pacific

Towards the closure of Q4, the Hastelloy prices edged downward in the Chinese market amid fluctuating raw material Nickel costs and demand dynamics. According to market participants, demand for Hastelloy increased in October due to frequent positive developments in the new energy industry chain. The profit margin on stainless steel increased, causing the steel plant to maintain a high production schedule. Furthermore, demand support continued to deteriorate, implying that ferronickel had more room to fall. Production scheduling increased again in November, bucking the trend and boosting Nickel Power demand. As the market entered the off-season, the market's potential negative effects became apparent. Molybdenum prices in China reached an all-time high at the end of 2022, and the price continues to rise due to rising demand and tighter supply caused by the Russia-Ukraine war and China's production cuts. According to market participants, the molybdenum price in China has been high, and Hastelloy prices are likely to rise again in February due to difficult procurement. As a result, the Hastelloy C-276 price discussions for Ex Shanghai (China) settled at USD 42490/MT.

Europe

In the fourth Quarter of 2022, the Hastelloy prices showcased an upward trend in the German market amidst fluctuating demand outlook and limited product availability. According to market participants, nickel prices have been trading sideways in recent months as volumes have fallen to record lows. Nickel volume remained historically low in mid-Q4, while nickel prices remained within their short-term range. Participants in the market noted that strong Chinese demand and a narrow spread between oxide and alloy in Europe could limit any short-term falls. As a result, the Hastelloy C-276 discussion for Ex Werdohl settled at USD 47230/MT.

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