European titanium markets surge higher in line with demand

The European ferro-titanium price has jumped to a peak last seen in May 2013, when it was assessed at a range of $6.70-6.90 per kg ddp, after renewed trading activity in quarterly business to steelmakers from January has joined with a bull run in spot demand since September.

Fastmarkets assessed the price for ferro-titanium 70% Ti, max 4.5% Al, ddp Europe at $6.25-6.75 per kg on Wednesday December 9, an increase of almost 20% from $5.25-5.65 per kg a week earlier.
Several spot deals were reported both for prompt and longer-term delivery contracts to steel mills out as far as February. Spot deals were reported as high as $6.70 per kg ddp, with the latest offer prices as high as $6.95 per kg ddp.
Suppliers reckon $7 per kg will be reached for standard grade ferro-titanium before the Christmas holidays on December 25, with $8 kg a realistic target into early January against expected robust demand and persistently tight scrap supplies.

"The ferro-titanium market is on steroids," a United Kingdom-based alloy supplier source told Fastmarkets. "The market is being driven higher by a lack of material, raw material, over-reaction, pre-emptive buying,...

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