AL6XN Plate Prices Show Bullish Trend in the US Market Amidst Rising Demand
- 07-Jun-2023 12:05 PM
- Journalist: Emilia Jackson
In the ongoing week of June 6, the price of AL6XN Plate shows a bullish trend in the US spot market due to a rise in demand from downstream marine, oil and gas, and piping industries. Moreover, the price of raw materials such as chromium, nickel, molybdenum, and nitrogen plays a major role in the price increase of the AL6XN Plate.
As per market players, the demand for AL6XN Plate from the downstream marine industry has increased by 2.4% this week as the growth in the tourism sector promotes the manufacturing of large ships. Additionally, automation and robotics involvement in the marine industry has increased the production rate of ships. Therefore, the buyers are looking forward to investing in AL6XN Plate as it shows a long-term growth rate in the upcoming period.
Amidst the ongoing global scarcity of portable drinking water, the desalinization process of seawater is a key process to eradicate this problem. The US government is investing in the uplifting of various desalinization plants. The AL6XN Plate has been used to replace piping that was initially vulnerable to corrosive attack in seawater at reverse osmosis desalination facilities. According to the domestic players, uplifting desalination projects will be installed in several regions, such as Nassau, Bahamas, and Carlsbad. Furthermore, the oil and gas industry has also increased their demands for AL6XN Plate for increasing pipeline distribution across the nation as the increasing need for oil and gas fuels the pipeline industries in the US.
Meanwhile, the price of Nickel feedstock has shown a slight increase in price by 2.9% since May 31 this year. Meanwhile, the feedstock Nickel prices also increased by roughly 2.9% since the last week of May, owing to the rising downstream inquiries from the end-users. Furthermore, Indonesia recently announced that it would introduce its Nickel price index, including the Indonesian Nickel export tax. The price of other raw materials of AL6XN Plate, like Chromium and Molybdenum, has been stable in the US spot market. The increasing feedstock Nickel price majorly pushes the AL6XN Plate prices to glide in the northward direction.
The AL6XN Plate has several uses in the food, pharmaceutical, and biopharmaceutical processes. The demand for Al6XN Plate has increased in food industries as it is resistant to the attack of corrosive food and beverage products. In the Paper manufacturing industry, the AL6XN Plate is used to make fasteners for pulp-bleaching plants as it is resistant to the chloride and hydroxide bleaching process. The paper industry is showing an incredible growth rate as the packaging industries for online retail markets have a significant increase in demand.
According to ChemAnalyst, the price of the AL6XN Plate will show a positive trend in the upcoming month as the demand from the marine industry is rising, and the Oil and Gas industry is also growing rapidly to sustain the country's need for development in automobile and industrial sector.