How long will FeTi traders wait?
2006-02-16 09:53:42 【Print】
BEIJING (Asian Metal) 16 Feb 06 – Usually, cold winter affects price, but this time around, consumption did not follow expectation and price has been largely flat around USD16.50-17.50/kg Ti d.p. and although Russian producers are not selling below USD16.50/kg now, UK material goes for USD16.50-17/kg Ti d.p.
Anticipating higher prices and believing consumers will come to the market in about two weeks, reports from participants indicate some are keeping the material, refusing to offer it around USD17/kg Ti d.p. whilst traders who have no material on hand and can take risks are buying from fellow traders at not below USD16.50/kg Ti d.p. for prompt delivery.
“It is all about taking risks, but I think the market should be active in about two weeks as we expect consumers to come out,” opined a trader who bought 20t of English-origin material for USD16.50/kg Ti d.p. for prompt delivery.
Another trader shared similar sentiment: “Although we liquidated some tons of material for USD16/kg Ti d.p. some days ago, we believe things will turn around soon.”
However, observers pointed out that as long as consumers remain the driving force in the market, traders have no option than to attract buying from consumers whose budgeted production plan and requirement traders have no inkling.
