Monel Prices

Monel Prices September 2024

The monel prices in the United States for Q3 2024 reached 42,000 USD/MT in September. Prices of monel were severely affected by a slowdown across multiple sectors. Reduced production volumes and a drop in fresh orders have created a cautious atmosphere amongst market players. The expected rebound in requirements is hindered by continuous geopolitical instability and fluctuating industry sentiment. Q3 largely exhibited a steady downward pricing trend throughout, with a significant drop compared to Q2 and a recorded decrease between the former and latter halves of Q3.

The price trend for monel in Japan for Q3 2024 settled at 40,347 USD/MT in September. The country experienced notable fluctuations in prices, with a pronounced drop compared to Q2. Throughout the period, the industry maintained a pessimistic sentiment, showing a steady to negative landscape. The overall movement pointed to a slow seasonal improvement, hindered by economic disruptions and reduced requirements from major industries, including automotive. Regardless of some changes in prices, the overall landscape was unfavorable, showcasing the difficult industry environment for monel in the third quarter of 2024.

In Germany, the monel prices for Q3 2024 reached 37,700 USD/MT in September. Supply network disruptions, like seaport traffic and limited transportation volumes, strained prices. Prices dropped significantly in the country compared to Q2, with a pronounced decrease between the former and latter halves of Q3. By the end of the period, monel prices reflected a difficult landscape characterized by continuous declines.

The prices for caprolactam for Q3 in the United Arab Emirates settled at 40,430 USD/MT in September. The country experienced an ongoing decline in the price of monel during the period. The overarching pricing trend reflected a pessimistic outlook, with prices consistently decreasing. When compared to Q3 2023, prices showed a significant drop, highlighting the difficult market conditions. In addition to this, prices decreased significantly from Q2 2024, further illustrating the ongoing declining trajectory. By the end of the quarter, monel prices reinforced the prevailing negative pricing landscape across the region.

Monel Prices June 2024

The monel prices in the United States for Q2 2024 reached 46,361 USD/MT in June. The country experienced significant fluctuations in prices. Several factors contributed to this, including increasing supply volumes, weaker-than-anticipated requirements from major industries, and ongoing transportation network disruptions. Seasonal patterns and shifting user sentiments in the automotive sector also played a role, further driving down the prices of monel. Overall, the pricing trend continued to decrease, with a notable drop compared to Q1 2024 and a further decline in the latter part of the period.

The price trend for monel in Japan for Q2 2024 settled at 44,823 USD/MT in June. The country experienced notable price fluctuations, displaying a distinctly negative trend. Prices have consistently declined, influenced by high supply volumes and weak requirements, in the automotive industry, in particular. Seasonal trends also contributed to the downward trajectory, with a sharp decrease in purchasing behavior aligned with year-end financial adjustments. When compared to Q2 2023, the industry has significantly weakened, highlighting the persistent economic difficulties.

In Germany, the monel prices for Q2 2024 reached 40,509 USD/MT in June. The country saw the largest price fluctuations in the European market, with an evident declining trajectory. This downturn was driven by a combination of seasonal factors and ongoing challenges in key industries. The slowdown in construction activity, combined with difficulties in the automotive sector, was particularly evident, contributing to the steady fall in prices of monel. Moreover, prices declined from Q1, with a notable decrease observed between the former and latter halves of Q2, underscoring the challenging market conditions.

The prices for caprolactam for Q2 in Saudi Arabia settled at 43,852 USD/MT in June. The country witnessed considerable changes in prices, with an overall downward trajectory reflecting the regional pricing trends.

Monel Prices December 2023

The monel prices in the United States for Q4 2023 reached 59060 USD/MT in December. In the USA, monel prices fell through the fourth quarter of 2023, starting high because of demand from automotive and chemical sectors and limited materials like Nickel. By December, increased inventories and a drop in downstream demand pushed prices lower. Severe winter weather and policy uncertainties also dampened market activity, affecting spot prices.

The price trend for monel in Japan for Q4 2023, reached 45544 USD/MT in December. The market witnessed a price decrease due to subdued demand in automotive and chemical sectors and oversupply. Increased local production and disrupted global trade routes further strained the market.

The price trend for monel in Germany for Q4 2023, reached 45940 USD/MT in December. Germany's monel prices in the fourth quarter of 2023 fluctuated, initially rising due to strong demand in chemical and automotive sectors but later declining amid oversupply. Market shifts were influenced by the EU's carbon tax debates, declining EV sales, and a transition towards green steel, contributing to decreased demand for traditional Monel products.

The price trend for monel in UAE for Q4 2023, reached 38345 USD/MT in December. The market experienced a mild decline in the fourth quarter of 2023, driven by reduced local demand and increased supply from Asia. An extended export ban on scrap materials and disruptions in global trade routes influenced the market.

Regional Coverage

The report provides a detailed analysis of the monel market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the monel price trend.

Global Monel Price

The report offers a holistic view of the global monel pricing trends in the form of monel price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into monel historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into monel price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed monel demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

North America Monel Price

Q3 2024:

In Q3 2024, prices of monel in the North American market witnessed a notable decrease, with the most pronounced changes occurring in the United States. This decline was driven by several factors, including an oversupply of the material, reduced requirements from major sectors such as manufacturing and construction, and volatility in feedstock costs. Q3 ended with the monel market exhibiting unfavorable pricing conditions across the region.

Q2 2024:

Throughout the second quarter of 2024, monel prices in North America saw a considerable drop, largely due to significant changes in supply-demand factors. The industry witnessed a downturn driven by high supply volumes and fluctuations in feedstock prices, worsened by international pressures and issues in major feedstock-manufacturing areas. Transportation expenses also rose due to longer shipment times and higher costs for sea freightage, contributing to overall instability. Although production remained steady, the industry grappled with excess supplies, resulting in a negative market outlook.

Q4 2023:

During Q4 2023, monel prices in North America fell notably. Initially, in October, high demand from the automotive and chemical sectors and limited availability of materials like steel scraps and nickel kept prices elevated. By November, increase in production and decreased consumption led to a downturn. Further declines in December were influenced by heightened inventory levels and subdued demand. Severe weather, winter holidays, and policy uncertainties around electric vehicles also affected market activity in the U.S. spot market.

Specific monel historical data within the United States and Canada can also be provided.

Asia Pacific Monel Price

Q3 2024:

Throughout Q3 2024, monel prices in Asia Pacific experienced a significant decrease due to numerous contributing conditions. Shifts in feedstock rates had a major impact on pricing. The industry also faced challenges from increased imports, oversupply, and reduced requirements from numerous sectors. Furthermore, international economic variability, subdued industrial activity, and diminished exports all played a role in the continued decline in prices of monel.

Q2 2024:

During the second quarter of 2024, prices of monel in Asia Pacific witnessed a downward trajectory, primarily driven by disruptions in international supply networks and shifting requirement patterns. Several circumstances impacted monel prices during the quarter, such as international pressures, fluctuations in nickel mining activities, and unstable transportation rates. Reduced production of nickel in major regions, along with operational suspensions at significant facilities, played a substantial role in tightening supply, further intensifying the challenging market conditions.

Q4 2023:

The monel market in the Asia-Pacific region faced challenges throughout the last quarter of 2023 due to fluctuating supply and demand dynamics. October saw a decline in prices in Japan, driven by reduced demand in automotive and chemical sectors, despite steady material supplies. The automotive manufacturing sector continued to see growth, especially in electric vehicles. November's prices further dipped due to increased output from Japanese manufacturers and oversupply issues.

This monel price analysis can be expanded to include a comprehensive list of countries within the region.

Europe Monel Price

Q3 2024:

During the third quarter of 2024, prices of monel in the European market experienced a substantial decline. Several circumstances contributed to this downward trend. A continuous drop in requirements from major industries such as construction, automotive, and aerospace was a key driver in lowering prices. Additionally, global economic unpredictability worsened the market conditions, causing buyers to delay sizeable purchases and disrupting the balance of demand and supply for monel. Geopolitical instability added to the subdued conditions, prompting manufacturers to adopt a more cautious strategy.

Q2 2024:

Throughout the second quarter of 2024, prices of monel in the European market saw a significant decline due to various contributing circumstances. Demand remained weak in numerous sectors, intensified by persistent international pressures and disruptions in supply chains. The construction industry, a major consumer of monel, experienced a sharp decrease in fresh orders, influenced by increased rates and economic unpredictability. Similarly, the automotive sector experienced a drop in new vehicle purchases, further reducing the need for monel. These challenges within key industries were worsened by increasing supply volumes and an oversupply of nickel, resulting in an overarching negative pricing landscape.

Q4 2023:

In Europe, the monel market experienced an unsteady fourth quarter of 2023, owing to oversupply and shifting demand. Prices in Germany rose in October due to rising demand from the chemical and automotive sectors, but market stability was hampered by a lack of raw material supply. By November, monel prices had dropped due to low demand in an oversupplied market. This trend persisted in December, with economic factors such as lower EV sales and a shift towards more environmentally friendly materials influencing traditional monel demand.

This analysis can be extended to include detailed monel price information for a comprehensive list of countries.

Middle East and Africa Monel Price

Q3 2024:

During the third quarter of 2024, prices of monel in Middle East and Africa witnessed a significant decrease. This downward trend was due to numerous factors, including excess supplies, weak requirements, and continuous volatility in feedstock prices, particularly nickel. These factors created a declining pricing trend, highlighting a tough landscape for industry players.

Q2 2024:

Throughout the second quarter of 2024, prices of monel in Middle East and Africa witnessed a substantial drop, driven largely by international instability and disruptions in supply chains. Key factors contributing to this decline included tariffs on feedstocks from Russia, escalating rates of nickel caused by shortages in major producing areas, and rising transportation costs following the Red Sea conflict. These issues created a difficult market landscape for monel producers, further strained by logistical challenges at nickel manufacturing plants.

Q4 2023:

Monel prices in the Middle East and Africa fell in Q4 2023, influenced by various key factors. The UAE market declined in October due to lower domestic demand and increase in supply, as well as cheaper imports from Asia. The UAE's extended ban on stainless steel scrap and steel exports emphasized the need for local production. Disruptions at the Port of Newcastle and changes in global energy production forecasts posed additional challenges to market stability.

In addition to region-wise data, information on monel prices for countries can also be provided.

Latin America Monel Price

The analysis of monel prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Monel Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Monel Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of monel pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of monel at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of monel price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing monel price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Monel Market Analysis

The global monel market size reached 21.2 Thousand Tonnes in 2023. By 2032, IMARC Group expects the market to reach 29.7 Thousand Tonnes, at a projected CAGR of 3.80% during 2023-2032.

• The intensification of industrial processes as well as the chemical processing, oil and gas, and marine industries develop the field for the application of monel alloys that show high corrosion resistance in aggressive environments. According to the International Stainless Steel Forum (ISSF), stainless steel production saw an annual increase of 10.6%, reaching 56.3 million metric tonnes in 2021. 
• Technological breakthroughs and advancements which enhance the quality of products of monel alloys and bring down the processing costs prevailing on the market are encouraging market growth.
• Countries are generally forced to implement tighter environmental standards globally. As a result, industries are using materials of higher quality such as monel to withstand aggressive and corrosive conditions. Consequently, there is increased equipment life span and lower environmental impacts, thereby fueling the market.
• Long-term investments in infrastructure, especially in developing regions where durable materials are needed for construction and engineering, include monel alloys used for critical functioning as environment service, which in turn is propelling the market.
• Considerable rise in oil and gas production as well as the offshore and high-sulfur activities are rapidly growing, thus the materials with extra or extreme corrosion resistance are increasingly preferred which favor the adoption of monel.
• The growing dependence on lighter and more powerful materials in the automotive and aerospace sector drives the demand for monel alloys for improving the performance and fuel efficiency of these heavy duty machines, thereby contributing to the market growth.
• Fast-paced economic growth and industrial renewal in emerging markets as well as the rise of new factories and production facilities, demand more products containing monel alloys.
• Continuous research and development (R&D) activities including search for new applications and improving the capabilities of monel alloys can create extra markets and new applications.
• Monel’s non-reactionary nature allows it to be used in medical devices and implants, a sector that could be demanding due to invention of technologies in the field of medicine and aging population around the world.
• As the electric vehicle segment continues to grow, this consequently creates an increase in the demand for long-lasting and corrosion-resistant materials such as monel.

Monel News

The report covers the latest developments, updates, and trends impacting the global monel market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the monel price trend.

Latest developments in the monel industry:

• On 13^th February 2023, JSW Steel and Japan's JFE formed JV to produce grain-oriented electrical steel in India. The JV aspires to cater to the rising domestic demand for grain oriented electrical steel and contribute significantly to the country's energy infrastructure.
• On 1^st May 2023, Aramco, Baosteel and PIF signed agreement to establish first integrated steel plate manufacturing complex in Saudi Arabia. The project aims to enhance the domestic manufacturing sector through localizing the production of heavy steel plates, transferring knowledge, and creating export opportunities.

Product Description

Monel is a nickel-copper alloy that is mainly actualized for its strength, toughness, and capacity to resist corrosion and high temperatures. It is widely utilized in various settings with extreme environmental conditions. It is widely preferred in chemical and hydrocarbon processing equipment, marine engineering, valves, pumps, and shafts on account of its high reliability and longevity.

On the other hand, it plays vital roles in the space industry through parts for jets, engine mounts and exhaust systems due to an excellent capacity to endure extreme conditions. Also, monel is used in electronics and medical fields for their high conductivity and non-reactivity.

The alloy stands out in applications such as the development of musical instruments as well as measurement devices where non-erosive and durable materials are preferable.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of monel pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting monel price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The monel price charts ensure our clients remain at the forefront of the industry.