The European titanium scrap market, which was steady in the week to Wednesday January 27, looks set to resume its price rally that started in September 2020 in the near term, market sources told Fastmarkets.
Fastmarkets'
titanium scrap turnings, unprocessed type 90/6/4, 0.5% Sn max, cif Europe price stood at $1.60-1.75 per lb in the latest assessment on Wednesday, while
titanium scrap turnings, unprocessed type 90/6/4, 0.5-2% Sn max, cif Europe was 1.40-1.50 per lb.
Both markets registered double digit percentage growth a week earlier on Wednesday January 20, and trade sources expect higher prices in the coming weeks amid a persistent, severe shortage of the feedstock used to make ferro-titanium.
The acute shortage of titanium scrap turnings and solids has been as a result of a slump in commercial aircraft production, which is a major source of the material. The price for titanium scrap with low tin content (Sn 0.5%) is now at a level last seen in October 2014 when the price peaked at $1.75 per lb cif Europe.