Scrap shortage from aviation pushes European titanium prices to multi-year highs

The European ferro-titanium price has jumped to a peak last seen in January 2013, with strong demand from consumers for prompt deliveries and into February combining with a shortage of scrap to push the markets higher.

Fastmarkets assessed the price for ferro-titanium 70% Ti, max 4.5% Al, ddp Europe at $7.00-7.50 per kg on Wednesday December 16, an increase of more than 11% from $6.25-6.75 per kg a week earlier and the highest in almost eight years when it was at $7.45-7.55 per kg ddp.
A few hundred tonnes of deals were reported for standard grade and refined grades, such as low aluminium content, on a spot basis, as well for delivery in the first two months of next year. Higher grade ferro-titanium was reported sold for as much as $8.90 per kg ddp for delivery in February.

Most suppliers said they expected the ferro-titanium market to reach double figures in the next few weeks or so, with one supplier saying there is a similarity between this rally and the one in 2005 when prices moved up...

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