Chinese ferrotitanium market prices down

BEIJING (Asian Metal) 21 Mar 23 - Discouraged by soft demand from downstream steel mills, Chinese ferrotitanium 70%min suppliers lowered their prices to promote sales in the past week. The current mainstream prices of Chinese ferrotitanium 70%min decreased to RMB32,000-33,000/t (USD4,638-4,783/t) EXW D/A 180 days, down by RMB500/t (USD72/t) from early last week.Asian Metal Copyright A producer in South China noted that they quoted RMB32,500t USD4,712t EXW DA 180 days for ferrotitanium 70%min and could accept RMB32,000t USD4,638t for orders no less than 100t today, while they could accept RMB32,500t USD4,712t for the same quantity when they offered RMB33,000t USD4,783t early last week.Asian Metal Copyright As most suppliers have no confidence in the market, insiders predict that the mainstream prices would decrease further in the coming week.

"We offer RMB32,500/t (USD4,712/t) EXW D/A 180 days for ferrotitanium 70%min and could accept RMB32,200/t (USD4,669/t) for orders no less than 30t at the moment, while we could accept RMB32,700/t (USD4,741/t) for the same quantity when we quoted RMB33,000/t (USD4,783/t) early last week," said a producer in North China, who refused an inquiry of 30t at around RMB32,200/t (USD4,669/t) from a regular client early last week while they refused it. They finally sold about 30t to the client at around RMB32,200/t (USD4,669/t) early this week as they received no other inquiry. Discouraged by weak demand from downstream steel mills, the producer plans to lower their prices by around RMB200/t (USD29/t) next week and predicts that the mainstream prices would decrease by around RMB200/t (USD29/t) in the coming week.

With an annual production capacity of 3,600t, the producer would produce about 150t in March, unchanged from February. They produced nearly 2,000t in 2022 and around 400t so far in 2023.Asian Metal Copyright Discouraged by weak demand from downstream steel mills, the producer plans to lower their prices by around RMB200t USD29t next week and predicts that the mainstream prices would decrease by around RMB200t USD29t in the coming week.Asian Metal Copyright They hold no stock now, unchanged MoM.

A producer in South China noted that they quoted RMB32,500/t (USD4,712/t) EXW D/A 180 days for ferrotitanium 70%min and could accept RMB32,000/t (USD4,638/t) for orders no less than 100t today, while they could accept RMB32,500/t (USD4,712/t) for the same quantity when they offered RMB33,000/t (USD4,783/t) early last week. "We lost a tender last week when we insisted on RMB32,500/t (USD4,712/t) while our clients got lower offers from other plants," said the producer, who failed to conclude any deals after they last sold about 100t to a regular client at around RMB32,500/t (USD4,712/t) in early March. As most suppliers compete for limited orders, the producer has no confidence in the market next week and predicts that the mainstream prices would decrease by about RMB200/t (USD29/t) in the following week.

The producer, based on an annual production capacity of 15,000t, expects to produce around 400t in March, down by 100t MoM. They produced nearly 5,600t in 2022 and almost 1,200t so far in 2023.Asian Metal Copyright As most suppliers have no confidence in the market, insiders predict that the mainstream prices would decrease further in the coming week.Asian Metal Copyright They hold around 100t of stocks now, up by 100t from last month.

.Asian Metal Copyright Discouraged by weak demand from downstream steel mills, the producer plans to lower their prices by around RMB200t USD29t next week and predicts that the mainstream prices would decrease by around RMB200t USD29t in the coming weekAsian Metal Copyright