Date: Jun 7, 2018
Key data from the Wednesday June 6 pricing session in Europe.
Key drivers– Alloy producers reckon the market will consolidate above $5 per kg duty delivered paid in June due to increased consumer demand.
– But traders reckon there is buying availability below that level. A 60-tonnes tender from Swedish steelmaker SSAB with a deadline on Thursday should provide spot price guidance in the near term.
– The tender is for standard grade ferro-titanium, but with lower vanadium content at 1.9% vanadium compared with the standard 2.5-3% vanadium content, sources said. That should mean a higher price for the purchase, although the difference in price for the eventual deal is expected to be negligible, they added. The tender is expected to take about a week to be settled.
– More than 750 tonnes of alloy was reported traded this week at prices ranging between $5.05 per kg and $5.45 per kg duty delivered paid.
