China
India
Germany
United StatesQ1 2025
In the first quarter of 2025, Inconel prices experienced a notable increase, rising by $28,518 per metric ton, FOB shanghai which represents a 0.77% gain. This upward trend was primarily driven by escalating nickel costs, influenced by declining inventories and concerns over Indonesian export policies. These factors led to a tightening of supply chains and increased production costs for Inconel manufacturers. Despite challenges in the construction sector, where 57% of companies reported project shortages, demand for Inconel remained resilient in other industrial applications, such as aerospace and chemical processing. The strengthening of nickel futures and heightened trading volumes further supported the price increase. Looking ahead, the Inconel market is expected to maintain its upward momentum, contingent upon the resolution of supply chain uncertainties and sustained industrial demand.
Q4 2024
In Q4 2024, Inconel experienced a notable price decline of $28,301 per metric ton, FOB shanghai marking a 2.05% decrease compared to the previous quarter. This downward trend may reflect easing demand in key sectors such as aerospace, automotive, and oil & gas, where Inconel is commonly used due to its high resistance to heat and corrosion. Contributing factors could include a slowdown in industrial activity, improved global supply chains, or increased competition from alternative high-performance alloys. The price movement suggests a potential rebalancing in the market, where oversupply or reduced procurement cycles may be influencing short-term pricing dynamics.
Q3 2024
In Q3 2024, Inconel prices fell by $28,894 per metric ton, FOB shanghai a 7.87% decrease from the previous quarter. This drop was mainly driven by a global surplus of nickel, a key component in Inconel, which significantly reduced production costs. Weak demand in major markets like the U.S. and Germany, due to slowing manufacturing and delayed projects, further pressured prices. While Asia-Pacific also saw declines from oversupply, Europe remained relatively stable thanks to steady demand in aerospace and energy sectors. Overall, Q3 marked a challenging period for the Inconel market amid oversupply and demand contraction.
Q2 2024
In Q2 2024, Inconel prices surged by $31,362 per metric ton, FOB shanghai marking a 7.60% increase driven by constrained nickel supplies due to geopolitical tensions, sanctions on Russian exports, and production setbacks in key mining regions like Brazil and New Caledonia. This supply pressure was compounded by elevated shipping costs and ongoing disruptions in global logistics, particularly through the Red Sea. At the same time, strong demand from high-performance industries such as aerospace, automotive, and energy especially in North America and parts of Asia-Pacific sustained upward momentum in pricing. However, the European market showed more subdued activity due to weaker demand and excess inventories, slightly offsetting the global bullish trend. Overall, the quarter reflected a tight market environment with strong cost-push inflation and sector-driven resilience in Inconel consumption.
Q1 2024
In the first quarter of 2024, Inconel experienced a price decrease of $29,147 per metric ton, FOB shanghai marking a 1.07% decline. This downward movement reflects a modest market correction possibly influenced by softer demand in key industrial sectors such as aerospace, energy, and chemical processing, where Inconel is widely used due to its high-performance properties in extreme environments. The decrease may also be attributed to easing raw material costs, particularly for nickel and chromium, which are core components of Inconel alloys. Additionally, improved global supply chain conditions and increased production capacities could have contributed to the softened pricing trend during this period.
Q1 2025
In Q1 2025, Inconel prices in India experienced a notable increase of $43,504 per metric ton, Ex-Mumbai reflecting a 3.01% rise. This upward trend aligns with global market dynamics, particularly the surge in nickel prices driven by tightening supply and geopolitical uncertainties. Nickel, a critical component of Inconel alloys, saw price escalations due to factors such as declining inventories and export restrictions from major producers like Indonesia. Additionally, the Indian stainless-steel industry faced challenges from volatile raw material prices and the influx of low-cost imports, which could influence the broader alloy market. These developments underscore the complexities of the Inconel market, where raw material costs and international trade dynamics play pivotal roles in pricing strategies.
Q4 2024
In the fourth quarter of 2024, Inconel prices in India experienced a modest increase of $42,235 per metric ton, Ex-Mumbai reflecting a 0.06% rise. This uptick contrasts with global trends, where Inconel prices faced downward pressure due to a surplus in nickel supply and challenges in key manufacturing sectors. In India, the price adjustment may be attributed to localized factors such as fluctuations in raw material costs, including nickel and chromium, which are integral to Inconel production. Additionally, the complex and energy-intensive production processes of Inconel alloys contribute to their high costs, influencing pricing strategies. Despite the global economic challenges, India’s Inconel market appears to have maintained relative stability, possibly due to consistent demand in sectors like aerospace, energy, and chemical processing, where Inconel’s superior performance is essential.
Q3 2024
In the third quarter of 2024, Inconel prices in India saw a significant drop of $42,209 per metric ton, Ex-Mumbai reflecting a 5.13% decrease. This decline was primarily driven by a combination of global and domestic factors, including a surplus in nickel supply, which is a key component in Inconel production. The global market faced challenges such as reduced demand from industries like aerospace and automotive, along with oversupply issues in the nickel market. Additionally, reduced manufacturing activity and inventory clearances further pressured prices in India. Despite this downturn, there is potential for gradual stabilization if industrial demand improves, particularly from sectors like automotive and aerospace, though near-term price recovery remains uncertain.
Q2 2024
In Q2 2024, Inconel prices in India saw a notable increase of $44,493 per metric ton, Ex-Mumbai reflecting a 5.5% rise. This price surge was driven by a combination of factors, including global supply constraints, rising raw material costs particularly nickel and chromium and geopolitical challenges, such as sanctions affecting Russian raw materials and disruptions in key nickel-producing regions. The aerospace, energy, and high-performance sectors in India continued to fuel demand despite rising costs, contributing to the price hike. While the market faces continued upward pressure from supply shortages, the outlook for the remainder of 2024 will depend on global supply dynamics, raw material cost fluctuations, and regional demand shifts.
Q1 2024
In Quarter 1 of 2024, Inconel India experienced a price decrease of $42,174 per metric ton, Ex-Mumbai reflecting a reduction of approximately 1.12%. This decline in price could be attributed to various factors, such as changes in global market demand, shifts in raw material costs, or fluctuations in production capacity. The drop in price might also signal a response to market competition or lower input costs, potentially benefiting buyers in the short term. However, this decrease could place pressure on producers’ profit margins, depending on their cost structures. The overall impact will depend on the broader market conditions, including geopolitical factors, supply chain stability, and demand for high-performance alloys used in industries like aerospace, energy, and manufacturing.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Inconel is a family of high-performance nickel-chromium-based superalloys known for their exceptional strength, oxidation resistance, and ability to withstand extreme temperatures. It is widely used in industries such as aerospace, chemical processing, and power generation, where materials are subjected to high heat, pressure, and corrosive environments. Inconel alloys are particularly valued for their ability to maintain structural integrity at elevated temperatures, making them ideal for applications like gas turbines, jet engines, and heat exchangers. Available in various grades, Inconel provides superior resistance to thermal cycling, corrosion, and creep deformation, ensuring longevity and reliability in demanding conditions. By enhancing the performance and durability of critical components, Inconel plays a vital role in advancing the development of high-tech, high-performance systems and infrastructure.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Parameter | Specification |
| Material Grade | Inconel 625 |
| Standard | ASTM B168 / ASME SB168 / AMS 5540 / AMS 5599 |
| Thickness Range | 0.5 mm to 100 mm |
| Width | Up to 2000 mm |
| Length | Up to 6000 mm (custom lengths available) |
| Density | 8.44 g/cm³ |
| Melting Point | ~1350°C – 1400°C |
| Tensile Strength | 760 – 1035 MPa (varies by grade) |
| Yield Strength | ≥ 345 MPa |
| Elongation | ≥ 30% |
Applications
Inconel is a high-performance superalloy primarily composed of nickel, along with chromium, iron, and other elements, engineered for exceptional strength and resistance to extreme temperatures and corrosive environments. It is widely used in aerospace, power generation, chemical processing, and marine industries where reliability under harsh conditions is critical. Inconel maintains its mechanical properties at elevated temperatures, making it ideal for applications such as jet engines, gas turbines, exhaust systems, and heat exchangers. Its superior resistance to oxidation, corrosion, and creep ensures long-term performance and structural integrity in high-stress, high-temperature environments. Inconel’s combination of thermal stability, corrosion resistance, and strength makes it a vital material for advanced engineering and demanding industrial applications.
• Green Energy & Aerospace Recovery (2022–2023): As economies rebounded from the pandemic, a strong recovery in the aerospace sector and growing demand for high-performance alloys in green energy applications (e.g., wind turbines and hydrogen production) further increased demand for Inconel, driving prices higher.
• Energy Sector Growth & Aerospace Demand (2020–2021): The aerospace industry and the energy sector, particularly oil and gas, saw increasing demand for high-temperature resistant materials like Inconel. This boosted prices as manufacturers struggled to keep up with the demand for these critical alloys.
• Nickel Price Fluctuations (2017–2019): As Inconel alloys are heavily reliant on nickel, the volatility of nickel prices due to global supply concerns, mining disruptions, and geopolitical tensions significantly impacted Inconel prices, leading to periods of price increases.
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Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Inconel is a family of high-performance nickel-chromium-based superalloys known for their exceptional strength, oxidation resistance, and ability to withstand extreme temperatures. It is widely used in industries such as aerospace, chemical processing, and power generation, where materials are subjected to high heat, pressure, and corrosive environments. Inconel alloys are particularly valued for their ability to maintain structural integrity at elevated temperatures, making them ideal for applications like gas turbines, jet engines, and heat exchangers. Available in various grades, Inconel provides superior resistance to thermal cycling, corrosion, and creep deformation, ensuring longevity and reliability in demanding conditions. By enhancing the performance and durability of critical components, Inconel plays a vital role in advancing the development of high-tech, high-performance systems and infrastructure.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Parameter | Specification |
| Material Grade | Inconel 625 |
| Standard | ASTM B168 / ASME SB168 / AMS 5540 / AMS 5599 |
| Thickness Range | 0.5 mm to 100 mm |
| Width | Up to 2000 mm |
| Length | Up to 6000 mm (custom lengths available) |
| Density | 8.44 g/cm³ |
| Melting Point | ~1350°C – 1400°C |
| Tensile Strength | 760 – 1035 MPa (varies by grade) |
| Yield Strength | ≥ 345 MPa |
| Elongation | ≥ 30% |
Applications
Inconel is a high-performance superalloy primarily composed of nickel, along with chromium, iron, and other elements, engineered for exceptional strength and resistance to extreme temperatures and corrosive environments. It is widely used in aerospace, power generation, chemical processing, and marine industries where reliability under harsh conditions is critical. Inconel maintains its mechanical properties at elevated temperatures, making it ideal for applications such as jet engines, gas turbines, exhaust systems, and heat exchangers. Its superior resistance to oxidation, corrosion, and creep ensures long-term performance and structural integrity in high-stress, high-temperature environments. Inconel’s combination of thermal stability, corrosion resistance, and strength makes it a vital material for advanced engineering and demanding industrial applications.
The pricing of Inconel is influenced by several factors, including:
i. Supply & Availability
• Primary Production: Inconel is manufactured by specialized alloy producers using precision melting and forging techniques. The availability is tied to the global supply of high-purity raw materials such as nickel, chromium, and iron, as well as the capacity of superalloy mills.
• Raw Material Sourcing: Nickel is the principal component in most Inconel grades (e.g., Inconel 600, 625, 718), with additional elements like chromium, molybdenum, iron, and niobium. Any disruption in the mining or refining of these metals, particularly in countries like Indonesia, Russia, and Canada, can significantly impact Inconel pricing.
ii. Demand from Key Industries
• Aerospace & Defence: Inconel is extensively used in jet engines, turbine blades, exhaust systems, and heat shields due to its high strength at elevated temperatures. Aerospace sector demand (commercial and military) is a primary price driver.
• Power Generation & Energy: Used in gas turbines, nuclear reactors, and fossil fuel plants, Inconel’s high-temperature corrosion resistance makes it indispensable in energy applications.
• Oil & Gas & Petrochemical: Inconel is used in downhole tubing, piping, and valves due to its exceptional resistance to sour gas and aggressive chemicals. Demand in this sector is linked to global exploration, drilling activity, and refinery expansions.
iii. Grade & Alloy Composition
• Alloy Family Variants: The Inconel family includes multiple grades—Inconel 600, 625, 718, X-750, etc., each formulated for specific operating conditions. Higher-alloy grades like 718 (precipitation-hardenable) and 625 (with added molybdenum and niobium) typically command higher prices due to superior performance and more complex processing.
• Processing Requirements: Grades requiring special heat treatment, vacuum melting (e.g., VIM, ESR), or tight tolerance machining are more expensive due to additional manufacturing steps and energy usage.
iv. Geopolitical Factors
• Export Regulations & Sanctions: Nickel and other strategic minerals used in Inconel are subject to export controls, especially from countries like Indonesia and Russia. Political instability or sanctions (e.g., against Russian nickel) can reduce global supply and raise prices.
• Defence Industry Controls: Inconel is used in sensitive defence and aerospace applications. Its trade may be subject to ITAR, EAR, or other national export controls, affecting availability and cost in certain markets.
v. Market Speculation & Investment Trends
• Commodity Price Volatility: Nickel prices are highly volatile and can significantly influence Inconel pricing. Sudden surges due to speculation, supply disruptions, or demand shocks in the EV battery sector (another major nickel consumer) can drive up costs.
• Stockpiling & Strategic Buying: Defence contractors and aerospace OEMs may engage in bulk purchases or long-term contracts during periods of expected material shortages, tightening supply and affecting market spot prices.
vi. Alternative Materials & Substitutes
• Competing Alloys: Depending on the application, alternatives like stainless steel (316, 904L), Hastelloy, or titanium alloys may be used. However, the substitution is limited by temperature and corrosion resistance requirements where Inconel remains unmatched.
• Design & Material Efficiency: Advancements in engineering design or use of composite materials can reduce Inconel consumption per unit produced. However, such shifts are usually long-term and do not offer immediate relief from pricing pressures.
vii. Processing & Refinement Costs
• Energy & Technical Intensity: Inconel production involves complex processes like vacuum induction melting, hot rolling, forging, and precision machining. These steps are energy-intensive and require high-cost equipment and skilled labour.
• Quality Assurance & Certification: Industries such as aerospace and nuclear demand stringent quality assurance, certifications (e.g., AMS, ASTM), and traceability, all of which add to the cost. Failure rates during production and machining are higher due to the alloy’s toughness.
viii. Currency Exchange Rates
• Global Trade in USD & Other Currencies: Inconel is traded globally, usually priced in U.S. dollars. Exchange rate fluctuations between the dollar and other major currencies (e.g., euro, yen, pound, yuan) can impact both input material cost and export competitiveness.
• Impact on Supplier & Buyer Margins: Currency movements affect cost structures for both producers and consumers, especially in regions like Europe or Asia. This can lead to price adjustments or renegotiation of long-term contracts.
Rising feedstock prices increase the cost of producing Inconel, leading to higher market prices and potential supply constraints.
Inflation can raise Inconel prices by driving up the cost of key raw materials such as nickel, chromium, and iron, along with higher expenses for energy-intensive production and skilled labor. At the same time, inflation-induced growth in high-performance sectors like aerospace, power generation, and chemical processing can increase demand for Inconel, further elevating prices.
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