It would be unfair to unilaterally say that the only factor effecting alloy pricing (baskets, trays, radiant tubes, muffles etc.) is the price of nickel, however it is certainly fair to say that it has a large bearing on the price of 330SS, HU, HT and all those other materials used by the heat treatment industry.

Therefore predictions about future nickel pricing will be reflected in upcoming pricing for alloy components. Mr. "AI" is making these predictions about future pricing based on the question "will hu and ht material pricing change in the near future"?

"Yes, HU and HT material pricing is expected to change and face continued volatility in the near future. As of June 2026, raw steel material benchmarks—specifically Hot-Rolled Coil (HRC, often associated with "HU" coding) and Cold-Rolled Coil (CRC) / Heavy Heat-Treated Plates (often associated with "HT" coding)—are showing strong upward pressure rather than a downward drop. Industrial steel pricing has broken past historical baselines due to severe supply restrictions, trade policy adjustments, and rising production costs."

In response to the question; "is nickel pricing going up or down"? Mr. "AI" has this to say;

"Nickel prices are currently going down in the short term, but they remain significantly higher than they were at this time last year."

Our conclusion? While alloy pricing has certainly increased over the past year, it would appear that in the medium to long term, we will see relatively stable pricing. As a footnote to this story, it is interesting to note how nickel pricing has changed over the years-the attached graph shows pricing over the past 50 years with some mammoth spikes in 2008 and 2022.