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Monel, a high-performance alloy primarily composed of nickel and copper, has seen a price increase of $23,018 per metric ton, FOB Shanghai representing a 0.95% rise in Quarter 1 of 2025. This uptick is driven by factors such as the ongoing global supply chain disruptions, rising demand in industries like aerospace, marine engineering, and chemical processing, and the fluctuations in nickel and copper prices.
The price hike reflects the alloy’s value as a critical material in high-stress, high-corrosion environments, which continue to bolster its demand. This increase also suggests that producers are adjusting to higher production costs, potentially influenced by factors such as inflation, labour shortages, and energy price hikes. For manufacturers and industries reliant on Monel, these price adjustments may lead to higher operational costs, though the demand for its durability and unique properties may continue to support market stability.
Q4 2024
In Quarter 4 of 2024, Monel, a nickel-copper alloy, is expected to experience a price decrease of $22,801 per metric ton, FOB Shanghai reflecting a decline of approximately 2.53%. This reduction suggests that market conditions may be influenced by factors such as lower demand, oversupply, or changes in raw material prices, particularly nickel and copper, which are key components of Monel. The decrease in price could indicate an easing of pressure on production costs or a shift in the overall demand-supply dynamics. For industries relying on Monel, this price drop may provide an opportunity for cost savings or a strategic advantage in procurement. However, companies will need to monitor future trends, as market volatility could affect further pricing fluctuations.
Q3 2024
In Q3 2024, the price of Monel experienced a significant decline, dropping by $23,394 per metric ton, FOB Shanghai reflecting a decrease of 9.54%. This price drop could be attributed to several factors, including shifts in demand, market conditions, or changes in raw material costs. The decrease may signal a cooling in the demand for Monel or an oversupply situation, affecting its market value. Industry-specific events, like advancements in production technologies or changes in key industries that use Monel, could have also played a role. For businesses and investors involved in the Monel market, this decline presents both challenges and opportunities, with potential impacts on profitability and supply chain decisions in the coming months.
Q2 2024
In the second quarter of 2024, Monel, a high-performance alloy, experienced a notable price increase of $25,862 per metric ton, FOB Shanghai reflecting a 9.37% rise compared to the previous quarter. This price hike can be attributed to several factors, including increased demand in industries like aerospace, chemical processing, and electronics, which rely on Monel’s corrosion-resistant properties. Additionally, rising raw material costs, supply chain disruptions, and inflationary pressures likely played a role in driving the price increase. As a result, consumers may face higher production costs, while suppliers could benefit from improved margins. This trend also suggests continued market volatility, requiring businesses to stay agile and adapt to fluctuating raw material prices in the coming months.
Q1 2024
In the first quarter of 2024, the price of Monel, an alloy primarily made of nickel and copper, experienced a notable decrease of $23,647 per metric ton, FOB Shanghai which corresponds to a 1.32% decline. This price drop reflects a shift in market dynamics, potentially influenced by various factors such as fluctuations in raw material costs, changes in demand, or broader economic trends.
The reduction in price could suggest softer demand in sectors that use Monel, such as aerospace, marine, and chemical industries, or it might indicate a correction after previous price increases. Buyers and manufacturers in these industries may have adjusted their expectations based on the lower cost, which could help reduce production costs or shift purchasing strategies for the upcoming quarters. However, this decrease also signals potential volatility in the market, which stakeholders will need to monitor closely.
Q1 2025
In Q1 2025, Monel alloy prices in India saw a significant increase of $36,643 per metric ton, or 3.59%, Ex-Mumbai driven by the global rise in nickel and copper prices. This surge reflects strong demand in the construction and industrial sectors, especially in non-residential construction and urban redevelopment. While the Indian market benefited from this upward trend, it also faced challenges like labor shortages and high material costs, which led to project delays and a backlog. Despite these challenges, the outlook remains cautiously optimistic, with stakeholders needing to navigate the complexities of the market to capitalize on growth opportunities.
Q4 2024
Monel India’s performance for Q4 2024 reflects a notable price increase of $35,373 per metric ton, Ex-Mumbai representing a 0.07% rise. This marginal uptick in pricing indicates a slight yet positive shift in the market, suggesting improved cost management or an upward trend in the demand for Monel’s products. The incremental price adjustment could be a strategic move to offset inflationary pressures or rising raw material costs. While the percentage change seems minimal, it could still indicate stable growth and resilience in the company’s pricing strategy amidst a fluctuating market environment. Such a price increase, although small, may help in bolstering profit margins, especially if demand remains steady or increases in the coming quarters.
Q3 2024
In Q3 2024, Monel alloy prices in India experienced a significant decline, dropping by $35,347 per metric ton, Ex-Mumbai which represents a 6.07% decrease. This downturn was primarily driven by a global oversupply of nickel, a key component in Monel alloys, exacerbated by increased production from countries like Indonesia and China.
The surplus in nickel supply led to lower raw material costs, which, while beneficial for producers, also contributed to reduced Monel prices as manufacturers adjusted to the changing market dynamics. Additionally, weak demand from key industrial sectors, including marine, chemical processing, and aerospace, further pressured prices downward. These factors collectively resulted in a challenging pricing environment for Monel alloys in India during the third quarter of 2024.
Q2 2024
Monel India’s performance in Q2 2024 reflects a significant increase in pricing, with the cost per metric ton rising by $37,632, Ex-Mumbai or a 6.57% hike. This price adjustment is likely driven by factors such as inflationary pressures, rising raw material costs, and potential shifts in supply chain dynamics. The increase could bolster Monel India’s revenue, although it might also affect demand in price-sensitive markets.
For investors and stakeholders, this price rise signals a potential for stronger financial outcomes, but they will need to monitor how the market reacts to these adjustments and whether the increased pricing impacts the company’s competitive position. Overall, the 6.57% price hike positions Monel India to capitalize on higher margins, provided the market conditions remain favourable.
Q1 2024
Monel India experienced a notable decrease in its pricing during the first quarter of 2024, with the price per metric ton dropping by $35,312, Ex-Mumbai marking a decline of 1.33%. This reduction reflects potential challenges within the market, such as fluctuations in raw material costs, shifting demand, or increased competition.
The price decrease may also indicate strategic adjustments to remain competitive or adapt to changing market conditions. For stakeholders, this price change could impact profit margins, particularly if the cost structure remains unchanged. Investors and analysts will likely focus on how Monel India adapts its strategies to mitigate such impacts while maintaining operational efficiency.
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Molecular Weight[g/mol]
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Molecular Formula
Monel is a high-performance, corrosion-resistant alloy primarily composed of nickel and copper, with small amounts of other elements such as iron and manganese. Known for its exceptional resistance to corrosion, especially in seawater and harsh chemical environments, Monel is widely used in industries such as marine engineering, chemical processing, and aerospace. Its ability to withstand extreme temperatures and aggressive environments makes it ideal for applications like pumps, valves, marine propulsion systems, and heat exchangers. Monel alloys exhibit excellent strength, toughness, and weldability, ensuring long-term performance and reliability. Available in various grades, Monel is designed to offer outstanding durability in corrosive and high-stress environments, making it an essential material in the production of high-performance, resilient components for critical industrial applications.
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.
| Property / Specification | Details |
| Material Grade | Monel 400 |
| Chemical Composition | Nickel (Ni): ~63%, Copper (Cu): ~28–34%, Iron (Fe): 2.5%, Manganese (Mn): 2% |
| Standards | ASTM B127 (for Monel 400) |
| Thickness Range | 0.5 mm to 100 mm |
| Width Range | Up to 2000 mm |
| Length Range | Custom cut lengths available (up to 6000 mm) |
| Tensile Strength | 480 – 620 MPa |
| Yield Strength | 170 – 345 MPa |
| Elongation | Min. 30% |
| Density | 8.80 g/cm³ |
| Melting Point | 1300 – 1350°C |
Applications
Marine: Monel is extensively used in marine environments for shipbuilding, offshore platforms, and marine fasteners due to its superior resistance to saltwater corrosion, biofouling, and pitting.
Monel is a high-strength, corrosion-resistant alloy primarily composed of nickel and copper, with small amounts of iron, manganese, carbon, and silicon. Renowned for its excellent resistance to seawater, acids, and alkalis, Monel is widely used in marine, chemical, and aerospace industries. Its unique combination of toughness and corrosion resistance makes it ideal for components such as pump shafts, valves, heat exchangers, and fasteners exposed to harsh environments. Monel retains its mechanical properties across a wide temperature range and offers outstanding performance in both oxidizing and reducing conditions. Its durability, workability, and resistance to stress corrosion cracking make Monel a critical material for demanding applications where conventional metals would fail.
The pricing of Monel is influenced by several factors, including:
i. Supply & Availability
• Primary Production: Monel is primarily produced by specialty alloy manufacturers through melting and rolling processes. Production depends heavily on the availability of high-grade nickel and copper, as well as metallurgical expertise.
• Raw Material Availability: Nickel (up to 65%) and copper (20–30%) are the principal components. Disruptions in the supply chains of either metal due to strikes, geopolitical issues, or regulatory limits can reduce availability and increase costs. Major producing countries include Indonesia, Russia, Canada (for nickel), and Chile, Peru (for copper).
ii. Demand from Key Industries
• Marine & Shipbuilding: Monel’s superior resistance to seawater corrosion makes it ideal for ship components, pump shafts, seawater valves, and heat exchangers. Demand from the naval and commercial marine industries strongly influences pricing.
• Chemical & Hydrocarbon Processing: Used in chemical plants, Monel is preferred for handling hydrofluoric acid, alkalis, and corrosive media. Demand aligns with the expansion or modernization of chemical and refinery infrastructure.
• Oil & Gas Sector: Monel is used in offshore drilling rigs, pipelines, and valves, particularly in sour gas environments. Oil & gas investment cycles and exploration activity affect alloy demand and pricing.
iii. Grade & Alloy Composition
• Monel Variants: Common grades include Monel 400 (most widely used), Monel K-500 (precipitation-hardenable, higher strength), and Monel R-405 (free-machining version of 400). K-500 commands a premium due to its enhanced mechanical properties and complex processing.
• Composition Sensitivity: Small fluctuations in nickel or copper content, or the addition of trace elements like iron or manganese, can impact both cost and performance characteristics, influencing price accordingly.
iv. Geopolitical Factors
• Resource Nationalism & Trade Controls: Countries rich in nickel or copper (e.g., Indonesia for nickel, Chile for copper) may impose export restrictions or taxes, directly affecting global Monel pricing by reducing raw material flow.
• Trade Agreements & Tariffs: Tariffs on alloy products or on key inputs can raise production costs. U.S. tariffs on specialty metals or retaliatory duties in EU or Asia can shift pricing dynamics, especially for export-focused producers.
v. Market Speculation & Investment Trends
• Nickel & Copper Commodity Markets: Both nickel and copper are traded on global commodities exchanges (LME, COMEX). Price speculation, driven by anticipated shortages, EV demand (for nickel), or infrastructure spending (for copper), can lead to spikes in Monel input costs.
• Strategic Stockpiling: Defence or marine agencies may stockpile Monel-based components, especially during geopolitical uncertainty, temporarily tightening supply and increasing market prices.
vi. Alternative Materials & Substitutes
• Competing Alloys: In some applications, stainless steels (e.g., 316L), brass/bronze, or other nickel alloys (e.g., Inconel, Hastelloy) may substitute Monel. However, such substitution is limited where seawater or chemical resistance is paramount.
• Design Efficiency & Innovation: Engineering improvements can reduce the volume of Monel required per application, though such gains are typically gradual and do not offset short-term price fluctuations.
vii. Processing & Refinement Costs
• Energy-Intensive Production: Melting and alloying Monel require controlled, high-temperature environments, especially for K-500 which also undergoes aging heat treatment. Energy costs (electricity and gas) play a significant role in overall pricing.
• Machining & Fabrication Challenges: Monel is known for being difficult to machine due to its work-hardening nature. This leads to higher tool wear, slower machining speeds, and increased labour and tooling costs, particularly in precision components.
viii. Currency Exchange Rates
• Global Trade Impact: Monel, like most specialty alloys, is priced in U.S. dollars internationally. Fluctuations in exchange rates (e.g., between the dollar and the Canadian dollar, euro, or Chinese yuan) affect both production costs and international buying power.
• Impact on Global Supply Chains: Currency volatility may lead buyers to shift sourcing to more favourable regions or delay procurement, causing price volatility on spot markets and adjusting global demand flows.
Rising feedstock prices increase the cost of producing Monel, leading to higher market prices and potential supply constraints.
Inflation can raise Monel prices by increasing the cost of essential raw materials like nickel and copper, as well as production, labor, and transportation expenses. Simultaneously, inflation driven investment in marine, oil and gas, and chemical industries where Monel is valued for its corrosion resistance and strength can boost demand, contributing to higher prices.
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