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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 SolidsQuality: 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 destinationUnit: US cents per poundPublication: Every two weeksISRI code: None
Assessment: 309 Stainless Steel SolidsQuality: 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 BalanceLocation: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI Code: NoneIndustry marking: RA 309, HH
Assessment: 310 Stainless Steel SolidsQuality: 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 balanceLocation: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI code: NoneIndustry marking: RA 310, HK 40
Assessment: 330 Stainless Steel SolidsQuality: This grade is used extensively in the heat treat industry designed for high temperature applications. Nominal analysis: Ni 35% Cr 15% Fe BalanceLocation: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI code: NoneIndustry Marking: RA 330, HT
Assessment: Inconel 601 SolidsQuality: This alloy has high temperature strength, retains ductility, and has excellent corrosion resistance. Nominal analysis: Ni 60.5% Cr 23% Fe 14% Other BalanceLocation: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI code: None
Assessment: 17-4PH SolidsQuality: 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 destinationUnit: US cents per poundPublication: Every two weeksISRI code: None
The following grades would be discontinued:
Assessment: Nickel clips and solidsQuality: Common forms include new sheet, plate, bar, tube, and other miscellaneous solids. Free of foreign attachments and other contamination. Nominal chemistry: Ni 99% plusLocation: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI code: Aroma (new nickel scrap) Burly (old nickel scrap)
Assessment: Nickel TurningsQuality: Turnings and shavings from bar products. Nominal chemistry: Ni 99% on a dry basis after yield loss.Location: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI code: None
Assessment: R Monel SolidsQuality: 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 destinationUnit: US cents per poundPublication: Every two weeksISRI code: Hitch
Assessment: Monel TurningsQuality: Mixed Monel turnings containing a minimum of 60% nickel content dry, on a yielded basis.Location: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI code: Lemur
Assessment: K Monel SolidsQuality: 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 destinationUnit: US cents per poundPublication: Every two weeksISRI code: Indian
Assessment: Invar SolidsQuality: 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 BalanceLocation: United States delivered to destinationUnit: US cents per poundPublication: Every two weeksISRI 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.