Annealed Monel has a conductivity of only 3.4% that of annealed copper wire.
Semiconductors have conductivities in the range 10^-6 to 10^5 S/m. Monel is about 20 times more conductive than the most conductive semiconductor. Therefore, Monel is a conductor. But, compared to good conductors like silver (63 MS/m), copper (57 MS/m), gold (45 MS/m), and aluminum (35 MS/m), Monel (2 MS/m) is not very highly conductive.
In summary, Monel is a poor conductor, but a conductor none the less.