In July, the Monel market in the US and Germany faced downward pressures due to economic challenges. Monel prices in the spot market declined by 3% in the US and 2.5% in Germany. The economic challenges include decreased light vehicle sales, job gains falling short of expectations, high interest rates, and reduced consumer spending. These factors have contributed to the slowdown in manufacturing employment and overall economic growth momentum, impacting the demand for Monel. In Germany, the manufacturing index declined in July, raising recession concerns, and the construction sector remained deeply contracted. The global nickel market, crucial for Monel production, also faced hurdles with high inventory levels and weak demand. Other feedstock materials like copper and aluminum are experiencing price declines in both the US and Germany. The Monel market is likely to face continued challenges, with potential Federal Reserve rate cuts in September offering short-term relief in the US. However, the high-interest-rate environment is likely to sustain muted demand. The ongoing contraction in the construction sector in Germany and pessimistic outlook for future activity suggest weak demand for Monel. Global factors, including nickel price fluctuations and stainless-steel production trends, will continue to shape the Monel market. [61a87cb0]