- Prices fall by INR 12,800/t w-o-w
- Limited scrap availability keeps offers firm
Indian ferro titanium prices fell by INR 12,800/t ($133/t) w-o-w to INR 355,000/t ($3,678/t) exw-India in the week ended 23 July. The correction was driven by lower-priced transactions, even as tight titanium scrap availability continued to support producer offers.
Tight scrap supply underpins seller offers: Supply-side conditions remained firm, with constrained availability of titanium scrap keeping production costs elevated. Market participants indicated that sellers continued to quote material at up to INR 380,000/t ($3,937/t) exw, reflecting the tight raw material market. However, buyers showed limited willingness to accept these higher offers, resulting in deals being concluded at lower levels and pulling the market assessment down.
Demand remained subdued throughout the week, with consumers continuing to procure only against immediate requirements. Weak buying interest and cautious sentiment limited trading activity, while lower-priced transactions dominated the market despite supportive supply fundamentals.
Need-based steel mill buying caps Chinese market: China’s ferro titanium market remained broadly stable, as balanced supply offset weak demand from the steel and stainless steel sectors. Steel mills continued need-based procurement, while lower tender prices in southwest China underscored persistent pricing pressure. Producers largely operated against confirmed orders and maintained low inventories, helping keep the market balanced.
Outlook
India’s ferro titanium market is expected to remain supported by thin titanium scrap availability in the coming week. However, unless downstream steel demand strengthens and buyers return to the market, lower-priced transactions are likely to continue limiting any meaningful recovery in domestic ferro titanium prices.
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