BEIJING (Asian Metal) 19 Apr 19 – Mainstream transaction prices for Chinese high grade ferrotitanium 70% Al3%max keep at RMB32,500-33,700/t (USD4,848-5,027/t) EXW D/A 90 days now. Downstream demand is stable and the market witnesses sufficient transactions currently. Given the firm prices of raw material titanium scrap, prices for Chinese high grade ferrotitanium 70%Al 3%max are expected to be firm in the coming week.
A producer in North China stated that their price for high grade ferrotitanium 70%min is RMB34,000/t (USD5,072/t) EXW D/A 90 days now, and they can accept a counteroffer of RMB500/t (USD74.59/t), unchanged from last week. They last sold 30t of the material at RMB33,500/t (USD4,997/t) early this week. He noted that the current supply of local raw material titanium scrap is relatively tight and the price of the titanium scrap is increasing now. Given stable demand from downstream steel mills, he predicts that prices for Chinese high grade ferrotitanium 70%Al 3%max would be firm in the coming week.
With an annual production capacity of 20,000t, the producer expects to produce about 1,000t in April, in line with March, holding 300t in stocks for now.
A producer in South China noted that their price for high grade ferrotitanium 70%min is RMB34,000/t (USD5,072/t) EXW D/A 90 days now, and the lowest price they can accept is RMB33,000/t (USD4,923/t), in line with last week. They last sold 30t of the material at RMB33,000/t (USD4,923/t) on Wednesday. He claimed that demand from steel plants shows better and they keep selling stably for now. But as it is difficult to purchase raw material titanium scrap in spot market, the prices of titanium scrap increase. He believes that prices for Chinese high grade ferrotitanium 70%Al 3%max would be firm in the coming week.
With an annual production capacity of 15,000t, the producer expects to produce about 1,000t in April, in line with March. They maintain a low inventory on account of cost factors for now, holding about 200t in stocks.
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