When it comes to scrap inconel price, the metal is quite valuable and can be sold for a fair amount of money. This is due to the alloys versatility, strength and high melting point. These alloys are used in a wide range of industries and applications. The most popular application is in gas turbines, where the alloys are used in gas turbine blades, seals and combustors. The alloys are also used in electric submersible well pump motor shafts, high temperature fasteners, heat exchanger tubing for natural gas processing with contaminants such as H2S and CO2, firearm sound suppressor and Formula One and NASCAR exhaust systems.
The inconel prices market showcased a stagnant price trend during the final quarter of 2022, owing to fluctuating upstream nickel and molybdenum prices as well as a limited demand outlook. Production activity continued to decline in line with weak global economic growth, and manufacturing companies worked through excess inventories built earlier in the year.
Domestically, the price of inconel was influenced by molybdenum raw material prices as mining companies reduced operating rates due to poor demand conditions and low energy prices. In addition, the pandemic lockdown in China has made it difficult for firms to procure raw materials and move inventory into their warehouses, and has weighed on the overall demand outlook.
Prices of inconel can vary greatly depending on the grade and purity of the alloy. Pure grades such as Inconel 718 cost the most and are used in industries dealing with high temperatures, corrosion and oxidizing environments. Lighter grades, such as Inconel 601 or Inconel 625 are less expensive and have a variety of uses, from industrial applications to heat exchangers and nuclear reactor components.