- Offers touch INR 380,000/t ($3,970/t) exw levels
- SAIL tender boosts domestic buying sentiment
India’s ferro titanium market extended its gains during the week, with BigMint’s ferro titanium (Ti:70%) assessment rising by INR 16,000/t ($167/t) w-o-w to INR 371,000/t ($3,876/t) exw-India on 30 July. The uptrend was primarily driven by the shortage of both raw materials and finished ferro titanium, which prompted suppliers to increase their offer prices. Despite higher offers, regular spot transactions continued, indicating healthy buying interest from consumers with material requirements. The combination of tight supply and consistent trade activity kept prices supported at elevated levels.
SAIL tender lends additional support
Supporting domestic sentiment, SAIL’s Bhilai Steel Plant floated a purchase tender for 45 t of ferro titanium (Ti:65% min, 10-50 mm). The last date for bid submission is 1 August, while delivery has been scheduled within 180 days from the date of the purchase order. The tender is expected to sustain buying interest and reinforce the bullish tone in the domestic market.
China market remains range-bound
China’s ferro titanium market remained largely stable during the week. Major steel mills continued issuing procurement tenders, reflecting steady underlying demand, but purchases were largely limited to immediate requirements as the steel and stainless steel sectors remained in the seasonal off-season. Downstream buyers showed little interest in building inventories, while pricing pressure from steel mills continued to squeeze producers’ margins. As a result, the market remained confined to a narrow trading range, with no significant movement in prices.
Outlook
India’s ferro titanium market is expected to remain firm in the coming week, supported by the continued shortage of raw materials and finished alloy availability. Regular spot deals and procurement activity from domestic steelmakers are likely to keep prices elevated. However, any improvement in raw material availability or easing of buying interest could moderate the current upward momentum.
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