AL6XN Prices, Pricing, Demand & Supply
North America
In the last quarter of 2023 (Q4), the pricing of AL6XN in the North America region, specifically in the USA, has shown a stable price trend. Initially, in October, AL6XN prices in the US spot market showed a rising trend due to strong demand from the chemical and automotive industries amidst a shortage of upstream materials like Steel Scraps and Nickel.
US bond yields rose, indicating a robust economy, while the EU and US failed to resolve a steel dispute. Metallurgical coke prices in India and China increased, impacting AL6XN inventory levels. In November, AL6XN prices declined as production rates rose, and Outokumpu announced an expansion, increasing supply.
December saw AL6XN prices persisted plunging trend due to increased inventory and decreased downstream demand. Global Nickel mining grew, aided by the progress in the Minnesota Copper-Nickel Mining project. Cheaper Chinese imports prompted adjustments in US AL6XN industries. The latest price for AL6XN sheet (3 mm) DEL Houston in the USA for the fourth quarter of 2024 settled at USD 24260/MT.
Asia-Pacific
The fourth quarter of 2023 saw an overall stability in market trends for the AL6XN market in the APAC region. In the Chinese spot market, AL6XN prices initially declined due to reduced overseas demand, triggered by Anti-dumping measures from the overseas US and Europe. Uncertain Steel scrap and Nickel supply intensified pressure. Steelmakers sought iron ore due to scarce steel scrap, and Chinese iron ore stocks hit a 7-year low. Feedstock such as metallurgical coke prices rose in India and China. US Anti-dumping measures and Chinese surplus led to AL6XN price reduction. In the last quarter, AL6XN prices fell amid increased Nickel supply and lower consumption. Recycled AL6XN proved cost-effective over high-grade NPI. In mid-Q4, the surplus coal inventory level lowered production costs, but climate protests impacted Australian coal. Declining Nickel prices and increased production contributed to the downtrend. December saw stable AL6XN prices in China, influenced by reduced global demand. A Nickel supply surge, driven by global mining and events like a Chinese plant blast, affected AL6XN prices. High-grade NPI became cost-effective. Reduced consumption during holidays, weather, and Red Sea trade disruptions affected AL6XN demand. Lowered demand persisted during winter holidays, impacting US and European orders, with future trends tied to trade and macroeconomic factors. The ripple effect of these factors resulted in a stable price trend for AL6XN across the Chinese spot market. The latest price of AL6XN plate Ex Shanghai in China for the last quarter is USD 19754/MT.
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Europe
In the fourth quarter of 2023, the AL6XN market in Europe showed a rising trend due to various factors. Initially, there was a surge in demand from downstream industries such as the oil and gas piping sector, leading to a significant increase in AL6XN prices. This spike in demand can be attributed to the abundance of oil and gas supplies, as major oil-producing nations implemented measures to boost supply. Additionally, the European Central Bank's decision to increase its interest rate resulted in heightened buying activity among local purchasers, further boosting the demand for AL6XN. Furthermore, the supply of the raw material Nickel remained lower during this quarter, both domestically and internationally, amidst lower extraction rates from major mining countries. This shortage in Nickel supply exerted upward pressure on AL6XN prices. The production of Nickel was particularly sluggish in Russia, with Nornickel lowering its global nickel surplus estimate for the last quarter. The German spot market saw a notable increase in AL6XN prices in the ending of Q4, driven by increased demand from downstream industries and enhanced supply from major oil-producing nations. The lifting of U.S. sanctions on Russian oil and gas supplies also positively impacted the German piping market. In summary, the AL6XN market in Europe thrived in the fourth quarter of 2023, with increasing demand from downstream industries and a decrease in the supply of raw materials. material Nickel. Germany, in particular, experienced a decline in AL6XN prices due to reduced demand and supply challenges. The latest price for AL6XN Sheet (3 mm) FD-Werdohl in Germany in the last quarter is USD 23690/MT.
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