The update consists of a number of steps, including a consolidation of the price assessments for nickel scrap in the United States.
Fastmarkets will publish a single delivered processor price range for each grade in the United States, rather than a price range for individual cities for the broker/processor buying prices. The price will be based off an assessment of the various inputs Fastmarkets receives. The name for these markets will also be changed to processor buying prices. The frequency of the market assessment will remain twice a month. Hastelloy C-22 Plate
As part of this update to the broker/processor buying prices, Fastmarkets will discontinue the following grades:
Fastmarkets will also delist its current set of nickel scrap dealer buying prices due to a lack of liquidity. Following the update, Fastmarkets expects to initiate another consultation in 2023 on the potential launch of price assessments for additional grades of stainless steel scrap and nickel alloys.
A 30-day consultation period for this proposal began on Monday September 19 and ended on Tuesday October 18. An update to this notice was published on Wednesday October 19.
The following prices would be affected by the proposed changes:
Nickel scrap broker/processor buying prices: Assessment: Inconel 600 Solids Quality: Inconel is a registered trademark superalloy containing a minimum equal to or greater than 72% nickel. High temperature and extreme corrosion resistance applications. Nominal chemistry: Ni 76% Cr 15.5% Fe 8.0% Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: None
Assessment: 309 Stainless Steel Solids Quality: This higher nickel grade stainless is used in many heat treat applications. The higher nickel and higher chromium values provide good resistance to higher temperatures. Nominal analysis: Ni 12 Cr 25 Fe Balance Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI Code: None Industry marking: RA 309, HH
Assessment: 310 Stainless Steel Solids Quality: The 310 stainless steel grade is a medium high nickel grade used in many heat treat applications with high temperatures and higher corrosion resistance qualities. Nominal analysis: Ni 20 Cr 25 Fe balance Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: None Industry marking: RA 310, HK 40
Assessment: 330 Stainless Steel Solids Quality: This grade is used extensively in the heat treat industry designed for high temperature applications. Nominal analysis: Ni 35% Cr 15% Fe Balance Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: None Industry Marking: RA 330, HT
Assessment: Inconel 601 Solids Quality: This alloy has high temperature strength, retains ductility, and has excellent corrosion resistance. Nominal analysis: Ni 60.5% Cr 23% Fe 14% Other Balance Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: None
Assessment: 17-4PH Solids Quality: 17-4PH is a martensitic grade that is ductile and tough. Some common applications are golf clubs, firearms, pump parts, and chemical processing equipment. Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: None
The following grades would be discontinued: Assessment: Nickel clips and solids Quality: Common forms include new sheet, plate, bar, tube, and other miscellaneous solids. Free of foreign attachments and other contamination. Nominal chemistry: Ni 99% plus Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: Aroma (new nickel scrap) Burly (old nickel scrap)
Assessment: Nickel Turnings Quality: Turnings and shavings from bar products. Nominal chemistry: Ni 99% on a dry basis after yield loss. Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: None Assessment: R Monel Solids Quality: R-405 Monel is a nickel-copper alloy and a free machining grade of Monel 400. Must be clean and free of all attachments and contamination. Nominal chemistry: Ni 66% Cu 31.5% Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: Hitch
Assessment: Monel Turnings Quality: Mixed Monel turnings containing a minimum of 60% nickel content dry, on a yielded basis. Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: Lemur
Assessment: K Monel Solids Quality: K Monel (K 500) has added strength and hardness with the addition of Aluminium and titanium. Applications include pump shafts, impellors, oil well parts, and pumps in marine service. Nominal chemistry: Ni 65% Cu 29.5% Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI code: Indian
Assessment: Invar Solids Quality: Invar and Invar 36 is a nickel-iron alloy that retains good strength and toughness. Applications include laser components and production process is similar to austenitic stainless steel grades. Nominal analysis: Ni 36% Fe Balance Location: United States delivered to destination Unit: US cents per pound Publication: Every two weeks ISRI Code: None
To provide feedback on this update, or if you would like to provide price information by becoming a data submitter to the nickel scrap assessments, please contact Sean Barry at pricing@fastmarkets.com. Please add the subject heading: “FAO: Sean Barry re: nickel scrap.”
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
Pure Nickel Benchmark Administration Terms & Conditions | Privacy Policy | Modern Slavery Act