Throughout April, Monel prices declined widely in all major international markets, with Germany experiencing the biggest decline and the UAE coming in second, while Japan showed comparatively stable prices with only a slight decline. Even though there is still industrial activity in the chemical processing and marine applications sectors, the high-performance nickel-copper alloy is trending downward.

Market Highlights:

• Monel prices fell 6% in Germany, 4% in UAE, and 1.5% in Japan during April
• LME nickel inventories surged on April 22, pressuring key Monel component costs
• Copper prices initially declined before stabilizing later in the month
• Elevated inventory levels across all regions creating downward price pressure
• Asian manufacturers intensifying competition with aggressive pricing strategies
• Construction sector showing mixed signals across markets

The German Monel market experienced the most significant price correction, with the 6% April decline reflecting multiple pressures. Despite maintenance activities at Dow Chemical's EDC unit and BASF's expansion of its semiconductor-grade sulfuric acid plant, demand proved insufficient to support pricing. "We're seeing high inventory levels combined with cheaper raw materials," noted one distributor, "creating a perfect storm for price weakness."

All of the major international markets saw a significant drop in Monel prices throughout April; Germany saw the largest decline, followed by the United Arab Emirates, while Japan saw relatively stable prices with only a minor decline. The high-performance nickel-copper alloy is trending downward, despite the fact that industrial activity is still present in the marine applications and chemical processing sectors.

Japan emerged as the region of relative stability, with Monel prices easing just 1.5%. The Japanese market benefited from balanced supply-demand dynamics and resilient performance in industrial applications. New project orders increased slightly, supporting moderate demand despite raw material volatility. This relative strength suggests regional factors are playing a significant role in Monel's price behaviour globally.

Across all markets, feedstock costs have become a crucial factor. LME nickel inventories jumped significantly on April 22, signalling potential oversupply. Meanwhile, copper prices followed a volatile path, initially dropping before stabilizing late in the month. These raw material trends directly impact Monel production costs, amplifying pressure on producers already facing heightened competition from Asian manufacturers offering aggressive pricing.

According to ChemAnalyst, the market outlook for monel is still difficult through the middle of 2025, and a recovery will depend on feedstock prices stabilizing and inventory levels returning to normal. The durability of the building sector may help Japanese prices, but unless excess inventories are absorbed, pressure on the German and UAE markets is likely to persist. As competition heats up, producers should expect more pressure on their margins, especially from Asian suppliers who may take advantage of lower prices. Stronger end-user demand and coordinated production discipline are necessary for any significant price recovery, especially from the chemical processing and marine industries where Monel's corrosion-resistant qualities are still crucial.