Inconel refers to a family of high strength nickel-chromium-iron alloys, e.g. Inconel 600 contains 72% nickel, 16% chromium and 8% iron. Other versions of Inconel exist, e.g. Inconel 750 has a small percentage of titanium and aluminum added for hardenability.
These alloys have exceptional anti-corrosion and heat-resistance properties and are used for a variety of extreme applications such as chemical processing, aerospace and marine engineering, pollution-control equipment, and nuclear reactors.
Another high nickel content alloy is Monel, its composition is 65-70% nickel, 20-29% copper and it further contains a/o iron and manganese. It was discovered in 1901 by Robert Crooks Stanley who worked for the International Nickel Company (INCO). The new alloy was named in honor of the president of the company, Ambrose Monell.
Monel is highly corrosion resistant and some alloys can withstand a fire in pure oxygen. Monel is used for marine engineering, chemical and hydrocarbon processing equipment, valves, pumps, shafts, fittings, fasteners, and heat exchangers. It is also used as part of metal instruments and frames of eyeglasses. Some alloys are completely non-magnetic and are used for anchor cable aboard minesweepers, housing magnetic field measurement equipment, and have applications in the oil drilling industry.
Due to the high nickel content in Inconel and Monel, these alloys are more expensive than stainless steel.