Proposal to revamp US nickel scrap prices [update]

Following a consultation period and market feedback, Fastmarkets will proceed with a comprehensive update of its nickel scrap prices to bring them in line with its global price reporting agency standards.

The update consists of a number of steps, including the consolidation of the price assessments for nickel scrap in the United States.

Rather than a price range for each of the individual cities for the broker/processor buying prices Fastmarkets reviews, a single delivered processor price for each grade will be published for the United States, with that price to 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.

As part of this revamp to the broker/processor buying prices, Fastmarkets will discontinue the following grades:

• Nickel scrap solids
• Nickel turnings scrap
• Monel R-400 scrap solids and clips
• Monel scrap turnings
• Monel K-500 (castings) solids and clips
• Invar Solids
• 17-4PH solids: switched over into the stainless steel processor buying price list.

Fastmarkets will also delist its current set of nickel scrap dealer buying prices due to a lack of liquidity.

The changes will take place on January 1, 2023.

The original notice for the 30-day consultation was published on September 19.

The following prices will be affected by the 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 proposal, 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.

What to read next
Global refined nickel premiums were broadly steady in the week to Tuesday November 29, with the exception of European briquettes premiums which came under further pressure due to increased supply
Key data from Fastmarkets’ aluminium ingot ADC 12 pricing session in China on Wednesday November 30
German equipment provider SMS Group will provide a logistics and storage system for a forthcoming $238.7 million aluminium foil plant being built in the US by South Korea’s LOTTE Group to meet demand for the material’s use in electric vehicles (EVs)
Fastmarkets has corrected its price indices for US- and Northern Europe-origin steel scrap, CFR Turkey, which were published incorrectly on Thursday December 1 due to a technical error.
Fastmarkets has today discontinued its price assessment for hot-briquetted iron export, fob main port Venezuela (MB-FE-0002).
After a consultation period, Fastmarkets has launched a weekly indicator for direct-reduction (DR)-grade iron ore pellet premiums, known as the iron ore DR-grade pellet premium indicator, $ per tonne.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed