Continued Volatility Across the Elemental Supply Chain

The past year was far from calm for the superalloy supply chain. Throughout 2025, tariffs and sustained geopolitical tensions placed significant pressure on the minor elements essential to our alloys. Hafnium, in particular, climbed to unprecedented levels, exceeding even the historic highs reached in 2023, as supply constraints tightened alongside those affecting tungsten and tantalum.

As we move into the new year, the market has offered little sign of stabilising. Instead, volatility has intensified, with emerging geopolitical developments now affecting not only minor elements but also major constituents such as nickel and cobalt. This wider disruption is creating an increasingly challenging environment for customers as they plan and forecast their material needs throughout 2026.

If you have not yet secured your alloy requirements for Q1, we encourage you to contact your account manager with your RFQs as soon as possible to ensure your demand is covered ahead of any further market movements.

We will continue to closely track these developments and keep you updated as conditions evolve.