Russian origin material pulls FeTi 70% down further
2005-10-11 09:12:05 【Print】
BEIJING (Asian Metal) 11 Oct 05 – Although traders and dealers might have anticipated a better fortune for ferrotitanium 70%min in the beginning of this quarter, the reality on ground indicates they may have to wait a little bit longer, probably when the Russian winter is extremely freezing within seconds.
Having been generally and marginally stable for weeks at as low as USD22-23/kg Ti in warehouse Rotterdam, market participants reported that its current price at USD20-21/kg Ti in warehouse Rotterdam is not unconnected to the abundance of the highly differentiated Russian material due to its unique low carbon, low nitrogen and low vanadium contents.
A UK-based trading executive confirmed the abundance of the Russian material in the market. “There is no denying the fact that the Russian origin ferrotitanium 70%min has been responsible for the stable and low price of the material to the delight of the end-users anyway, but leaving traders holding high inventory with few concluded deals in many weeks grumbling,” said the executive.
As winter approaches, titanium scraps is expected to trade at high level due to the fact that its collection, distribution and production is usually hampered by the freezing winter.
Market observers are not surprised about the impact of the Russian ferroalloys greatly influencing European market in recent days as the same Russian material contributed in part to eventually bringing down ferrovanadium 80%min price to USD61-62/kg V d.p. in warehouse Rotterdam last week.
Having been generally and marginally stable for weeks at as low as USD22-23/kg Ti in warehouse Rotterdam, market participants reported that its current price at USD20-21/kg Ti in warehouse Rotterdam is not unconnected to the abundance of the highly differentiated Russian material due to its unique low carbon, low nitrogen and low vanadium contents.
A UK-based trading executive confirmed the abundance of the Russian material in the market. “There is no denying the fact that the Russian origin ferrotitanium 70%min has been responsible for the stable and low price of the material to the delight of the end-users anyway, but leaving traders holding high inventory with few concluded deals in many weeks grumbling,” said the executive.
As winter approaches, titanium scraps is expected to trade at high level due to the fact that its collection, distribution and production is usually hampered by the freezing winter.
Market observers are not surprised about the impact of the Russian ferroalloys greatly influencing European market in recent days as the same Russian material contributed in part to eventually bringing down ferrovanadium 80%min price to USD61-62/kg V d.p. in warehouse Rotterdam last week.
