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In the US market, the Inconel Pricing showcased a stagnancy in the price trend in the final quarter of 2022 owing to the fluctuating upstream Nickel prices and limited demand outlook. According to several market participants, nickel trading activity recovery depended on the market opening up to arbitrage trading. In November, the LME decided to keep things as they were. The supply of raw materials for moly ingot was insufficient; demand in China was extremely high, particularly in December. While there were some stocks of molybdenum oxide and Ferro molybdenum in Europe, due to these being more liquid markets with more trade, inventories of moly ingot in European warehouses remain critically low. There was a supply shortage in 2022, with downstream consumers reporting that there was less material available from China. Because there was no available material on the ground, some people flew material from China.
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