For the Quarter Ending September 2025
North America
鈥� In the USA, the Inconel Price Index rose by 1.95% quarter-over-quarter, reflecting firmer aerospace demand.
鈥� The average Inconel price for the quarter was approximately USD 58596.67/MT based on FOB Miami.
鈥� Inconel Spot Price trended marginally higher as regional mill restarts supported short-term material availability improvements.
鈥� Inconel Price Forecast remains constructive given steady demand and limited export supply from key mills.
鈥� Inconel Production Cost Trend showed upward pressure from nickel and chromium feedstock increases, squeezing margins.
鈥� Inconel Demand Outlook strengthened for aerospace and energy sectors, underpinning inventory draws and elevating activity.
鈥� Inconel Price Index volatility remained muted despite tight supply pockets and resilient downstream order books.
鈥� Major producer operating rates climbed, improving throughput while inventory balances tightened, sustaining near-term price support.
Why did the price of Inconel change in September 2025 in North America?
鈥� Sustained aerospace and energy demand outpaced regional supply increases, drawing down inventories across the quarter.
鈥� Higher nickel and chromium feedstock pricing elevated production costs, pressuring margins and limiting spot selling.
鈥� Logistics constraints and export demand for alloy grades tightened availability, supporting price resilience in September.
APAC
鈥� In Japan, the Inconel Price Index rose by 2.59% quarter-over-quarter, driven by tighter mill supply
鈥� The average Inconel price for the quarter was approximately USD 74633/MT, per regional reporting sources
鈥� Inconel Spot Price firmed, with the domestic Price Index supporting restocking by fabricators, alloy processors
鈥� Inconel Demand Outlook improved as automotive and aerospace restarts increased fabrication activity and mill orderbooks
鈥� Inconel Production Cost Trend rose as nickel ferroalloy premiums elevated mill operating expenses and margins
鈥� Short-term Inconel Price Forecast remains cautiously bullish given constrained capacity and persistent regional export demand
鈥� Port inventories declined, applying upward pressure to the Inconel Price Index amid stronger international inquiry
鈥� Planned furnace turnarounds trimmed production, supporting regional Inconel Spot Price recovery and tighter spot availability
Why did the price of Inconel change in September 2025 in APAC?
鈥� Domestic mill maintenance reduced supply, tightening physical availability and supporting higher short-term regional pricing levels
鈥� Elevated nickel and alloy feedstock premiums increased production costs, pressuring margins and forcing pass-through to buyers
鈥� Logistics congestion and container shortages delayed shipments, amplifying tight market signals and accelerating restocking behavior
Europe
鈥� In Germany, the Inconel Price Index rose by 1.95% quarter-over-quarter, driven by steady industrial demand.
鈥� The average Inconel price for the quarter was approximately USD 49220.00/MT, reflecting transactional levels reported.
鈥� Inconel Spot Price ticked higher amid constrained mill output and order intake from aerospace segments.
鈥� Analysts adjusted the Inconel Price Forecast upward due to tightened supply balances and stable consumption.
鈥� Feedstock and alloying metal costs supported upward Inconel Production Cost Trend, pressuring margins for converters.
鈥� Short term Inconel Demand Outlook remains firm driven by aerospace repair cycles and industrial refurbishment programs.
鈥� Inventory drawdowns at distributors tightened availability, lifting the Inconel Price Index and accelerating spot trading.
鈥� Operational uptime at mills improved, supporting exports and moderating volatility in the Inconel Spot Price.
Why did the price of Inconel change in September 2025 in Europe?
鈥� Reduced domestic inventories combined with steady industrial orders tightened supply, nudging prices higher in September.
鈥� Higher alloying metal and feedstock procurement costs elevated production expenses, influencing marginal price increases regionally.
鈥� Logistics constraints and prioritized mill allocations for longer contracts reduced spot availability, strengthening market dynamics.
MEA
鈥� In the United Arab Emirates, the Inconel Price Index rose by 1.94% quarter-over-quarter, tightening supply.
鈥� The average Inconel price for the quarter was approximately USD 52604/MT, reflecting modest regional demand.
鈥� Inconel Spot Price remained constrained by limited offers, while the regional Price Index showed firmness.
鈥� Inconel Price Forecast suggests upside next quarter if export demand increases and outages stay limited.
鈥� Inconel Production Cost Trend reflected higher nickel feedstock and energy expenses, pressuring regional margins further.
鈥� Inconel Demand Outlook improved for aerospace and oil sectors, tightening availability and reducing spot liquidity.
鈥� Inventory draws and export enquiries tightened availability, contributing upward pressure on the Inconel Price Index.
鈥� Major mill operating rates remained high, limiting discounting and supporting stability across Inconel supply chains.
Why did the price of Inconel change in September 2025 in MEA?
鈥� Supply constraints from high mill utilization and limited export offers reduced tonnage, supporting price increases.
鈥� Higher nickel feedstock and energy costs elevated production cost trends, pressuring margins, pushing Price Index.
鈥� Logistical delays and steady regional demand increased transaction times, reducing spot offers and tightening market.
For the Quarter Ending March 2025
North America
鈥� The Inconel Price Index for the first quarter of 2025 in North American market settled at USD 56,240/MT for Alloy 625 Sheet DEL Florida, reflecting a minor decline in comparison to Q4 2024 despite positive intra-quarter momentum.
鈥� Why did the price of Inconel Change in April 2025? In April 2025, prices observed an increase, owing to the strong infrastructure demand and rising nickel input costs, along with pressure from supply chain constraints.
鈥� In January, prices stabilized due to improved demand from construction and automotive industries, supported by U.S. infrastructure spending.
鈥� February saw a surge in Inconel Spot Prices, bolstered by higher nickel costs linked to Indonesian export uncertainties.
鈥� In March, despite material inflation and labor shortages, steady construction spending (+0.7%) sustained market growth.
鈥� The Inconel Production Cost Trend in Q1 rose due to high raw material costs, especially nickel, affecting manufacturer margins.
鈥� The Inconel Demand Outlook remains strong, underpinned by construction and auto sector recovery.
鈥� The Inconel Price Forecast for Q2 2025 anticipates continued firmness unless global supply stabilizes significantly.
Europe
鈥� The Inconel Price Index ended Q1 2025 at USD 37,670/MT for Alloy 600 Sheet Ex Werdohl (Germany), indicating price stability compared to Q4 2024.
鈥� Why did the price of Inconel Change in April 2025? In April 2025, prices witnessed a slight decline, primarily due to uneven construction sector recovery and weakening commercial demand.
鈥� January saw a 10% increase in Inconel Spot Prices, driven by rising nickel values, declining inventories, and increased LME activity.
鈥� February brought pricing stability, despite sluggish residential and commercial construction activity across Europe.
鈥� March pricing held firm as supply constraints persisted, but demand from civil engineering projects remained stagnant.
鈥� The Inconel Production Cost Trend reflected nickel price volatility and shipping disruptions, keeping pressure on supply chains.
鈥� The Inconel Demand Outlook is cautiously optimistic, supported by infrastructure and transport sectors but restrained by inflation and policy uncertainty.
鈥� The Inconel Price Forecast shows limited upside unless stronger industrial activity materializes in Q2 2025.
APAC
鈥� The Inconel Price Index in APAC closed Q1 2025 at USD 54,719/MT for Alloy 600 Sheet Ex Osaka (Japan), marking an increase over Q4 2024.
鈥� Why did the price of Inconel Change in April 2025? In April 2025 prices was projected to increase due to ongoing supply limitations and strong demand from Japan鈥檚 automotive and non-residential construction sectors.
鈥� In January, prices rose by 1.5%, supported by government-led infrastructure projects and consistent urban development.
鈥� February witnessed stable Inconel Spot Prices as demand persisted, even amid high nickel costs and constrained output.
鈥� March saw a 20% spike in prices, fueled by supply shortages in crude steel and pig iron, and an uptick in domestic vehicle sales.
鈥� The Inconel Production Cost Trend escalated due to raw material scarcity and operational delays.
鈥� The Inconel Demand Outlook remains strong, especially in logistics, automotive, and infrastructure applications.
鈥� The Inconel Price Forecast signals continued price escalation into Q2 unless upstream constraints ease significantly.
MEA
鈥� The Inconel Price Index in the MEA region ended Q1 2025 at USD 51,015/MT for Alloy 625 Sheet Ex Dubai, indicating a significant increase over Q4 2024.
鈥� April 2025 prices are expected to decline slightly, as regulatory supply restrictions begin to suppress billet availability and affect manufacturer output.
鈥� January experienced a 10% rise in prices, underpinned by strong construction sector demand and nickel market tightness.
鈥� February continued the bullish momentum with a 9.8% price increase, linked to surging UAE non-oil economic activity.
鈥� In March, prices stabilized due to inventory backlogs and new ECAS certification requirements, which restricted billet imports.
鈥� The Inconel Production Cost Trend increased, affected by regulatory compliance and rising raw material expenses.
鈥� The Inconel Demand Outlook remains healthy in industrial and infrastructure sectors, though slightly tempered by supply-side constraints.
鈥� The Inconel Price Forecast suggests potential for slight moderation unless new supply sources are unlocked.
For the Quarter Ending December 2024
North America
In Q4 2024, the Inconel market in North America faced notable challenges amidst fluctuating nickel prices and a cautious manufacturing landscape. Prices for Inconel saw a 4% decline in October, followed by an additional 6% drop in November, primarily attributed to an oversupply of nickel and reduced demand across various sectors. While the manufacturing sector showed slight signs of stabilization, the overall demand for Inconel was hampered by ongoing economic uncertainty and weak new order inflows.
The supply dynamics revealed significant excess inventory, compelling manufacturers to offer discounts to manage pricing pressures. Although the construction sector demonstrated moderate growth, with employment gains, uncertainty stemming from high interest rates and shifting economic policies continued to weigh on demand. The residential market, in particular, experienced declining activity, evidenced by longer home sales processes and reduced mortgage demand.
As Q4 concluded, the price for Alloy 625 Sheet DEL Florida stood at USD 57,410/MT, a decrease compared to Q3. Market participants are contending with persistent challenges, including fluctuating raw material prices and the need for efficient inventory management, making it essential to adapt strategies to navigate the uncertain outlook for Inconel demand moving forward.
Europe
In Q4 2024, the Inconel market in Europe faced considerable pressures, marked by fluctuation in prices, subdued demand, and ongoing economic uncertainties. Prices for Inconel, particularly in Germany, fell by 6% in October and November because of declining nickel prices and the oversupply of materials. By December, while prices remained stable, the weak market conditions persisted. Throughout the quarter, the overall trend reflected a decline, indicating challenges in both supply and demand dynamics. Demand conditions were significantly impacted by ongoing contraction in the manufacturing and construction sectors across the eurozone. Germany experienced notable declines in output and new orders, compounded by decreases in hiring and a reduction in public sector inquiries. Despite slight improvements in some segments, such as aerospace, the broader Inconel market struggled due to reduced construction activity and lower spending on new projects. As Q4 concluded, the price for Alloy 625 Sheet Ex Werdohl in Germany stood at USD 47,230/MT. This figure illustrates a consistent downturn in prices throughout the quarter. Market participants are facing challenges associated with regulatory concerns, low buyer confidence, and the uncertainty of future demand recovery, highlighting the need for strategic adaptations to navigate this complex environment effectively.
APAC
In Q4 2024, the Inconel market in the APAC region experienced a complex dynamic, characterized by a gradual decline in prices despite stabilization efforts by manufacturers. In October, prices dipped by 3%, followed by a further 2% decrease in November due to a surplus in nickel supply and low demand from key sectors, particularly construction. December observed stable pricing as market participants adjusted to ongoing uncertainties in raw material costs and demand conditions. The market faced pressures from an abundant influx of imports, notably from China, which has led the Japanese government to consider trade measures. The overall health of the manufacturing sector remained marginally weak, with the Purchasing Managers鈥� Index indicating contraction. However, retail and construction sectors showed signs of recovery towards the end of the quarter, buoyed by better inventory management and an uptick in new business inflows. As the quarter concluded, the price for Alloy 625 Sheet Ex Osaka in Japan was recorded at USD 51,459/MT. This reflects a downward trend throughout Q4, moving from initial declines to stabilization. Market participants are navigating challenges such as rising operational costs, fluctuating demand, and global supply uncertainties, necessitating strategic adaptations to align with the evolving landscape.
MEA
In Q4 2024, the Inconel market in the MEA region, particularly in the United Arab Emirates, maintained a cautious yet stable trajectory amid evolving economic dynamics. In October, Inconel prices decreased by 3% due to lower consumption levels and higher inventories, reflecting a competitive market environment. Prices remained stable throughout November and December, influenced by steady demand in the non-oil private sector, despite some challenges in overall economic sentiment. Key factors impacting the market included a significant surplus in nickel supply, coupled with improved business activity indicated by a rising Purchasing Managers' Index in the UAE. While the construction sector showed signs of resilience, new order growth softened, raising concerns about long-term demand momentum. Additionally, strong export activity towards major markets in Asia and Europe provided some uplift amid competitive pressures on pricing. The quarter-ending price for Alloy 625 Sheet Ex Dubai stood at USD 41,074/MT. Overall, the pricing trend for Inconel in Q4 exhibited an initial decrease followed by stabilization as producers navigated supply chain factors and working conditions.聽
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Inconel market experienced a challenging period characterized by decreasing prices. Several factors contributed to this downward trend.聽 聽Despite a 5% rise in nickel prices, Inconel prices in the region saw a 1% decrease, reflecting the impact of external economic pressures.
The manufacturing sector faced contraction, leading to subdued demand for specialty alloys like Inconel. Mixed signals in construction spending and uncertainty surrounding interest rate cuts further dampened market growth prospects. Within the USA, the market exhibited the most significant price changes, with prices falling in the quarter. Supply dynamics in the country faced surplus pressures, leading to discounted older inventory and pricing adjustments. While production levels remained solid, the oversupply situation created challenges for manufacturers.
Demand, although stable in critical sectors, faced headwinds from economic uncertainties and reduced purchasing activities. The quarter recorded a 2% price drop between the first and second half, reflecting ongoing market fragility. The quarter ended with Alloy 600 Sheet priced at USD 49090/MT DEL Florida, signalling a persisting negative pricing environment in the Inconel market. No plant shutdowns were observed during this quarter.
Asia-Pacific
In Q3 2024, the Inconel market in the APAC region experienced a decline in prices, influenced by various factors. Reduced demand and surplus supply played a significant聽role in driving prices down. The stability of nickel prices and fluctuations in key raw materials like nickel and chromium further contributed to the downward pressure on market prices.
Additionally, challenges in the steel industry, such as low demand and excess supply, added to the negative pricing environment. The quarter also saw disruptions in production, with some plants experiencing shutdowns, impacting the overall supply chain. Japan, in particular, witnessed the most significant price changes during聽 聽the quarter. The market trends in Japan reflected the overall decreasing聽 聽sentiment, with prices experiencing a negative trend. Seasonality and market聽 聽correlations further exacerbated the price decline.
Comparing prices from the same quarter last year, there was a noticeable decrease. The quarter-on-quarter percentage change recorded a decrease of 3% and the comparison between the first and second half of the quarter indicated a 2% decrease. The quarter-ending price in Japan stood at USD 41593/MT for Alloy 600 Sheet Ex Osaka, highlighting the prevailing negative pricing environment in the聽 聽region.
Europe
In Q3 2024, the Europe Region witnessed a period of stable Inconel prices, characterized by consistent market conditions and minimal fluctuations. This stability was influenced by various factors, including resilient supply chains, steady demand from key industries, and controlled production costs. Despite facing challenges such as global economic uncertainties and supply chain disruptions, the Inconel market maintained a balanced pricing environment throughout the quarter.
In Germany, which experienced the most significant price changes in the region, the Inconel market mirrored the overall stable trend observed in Europe. The country's pricing dynamics were impacted by factors such as fluctuations in raw material prices, changing demand from sectors like aerospace and energy, and seasonal variations in industrial activities.
The percentage change from the same quarter last year indicated a consistency in pricing trends, while the recorded a 5% decline from the previous quarter highlighted minor adjustments in market conditions. The comparison between the first and second half of the quarter showed no significant price variation, further emphasizing the overall stability in the German Inconel market. As the quarter concluded, the price for Alloy 600 Sheet Ex Werdohl in Germany stood at USD 42218/MT, underscoring the prevailing stable pricing environment in the region. Despite occasional challenges, the quarter overall exhibited a positive sentiment with prices maintaining equilibrium and reflecting resilience in the face of external pressures.
MEA
In Q3 2024, the Inconel pricing landscape in the MEA region experienced a notable decline, reflecting a negative sentiment across the market. Various factors聽 聽contributed to this downward trend, including an oversupply of Inconel leading to lower spot market prices, volatile nickel prices impacting聽 聽production costs, and reduced demand from key sectors like construction and聽 聽automotive.
The excess supply of Inconel put downward pressure on prices, while nickel price fluctuations added to the cost challenges faced by producers. Demand constraints from sectors like construction and automotive聽 聽further exacerbated the pricing decline, creating a challenging environment for Inconel pricing in the region.
In the United Arab Emirates specifically, the market saw the most significant price changes, with a recorded 9% decrease from the previous quarter in 2024. The comparison between the first and second half of the聽 聽quarter showed a further decline in prices. Despite stable supply聽 聽dynamics, high inventory levels, and decreasing demand contributed to the聽 聽negative price trend in the UAE. The quarter-ending price for Alloy 600 Sheet CFR Jebel Ali in the UAE stood at USD 31662/MT, highlighting the prevailing聽 聽downward pricing trend in the region. No plant shutdowns were observed during聽 聽the quarter.
