This week’s release of several large tenders is pushing up the ferro-titanium market, as most suppliers have only small amounts of alloy to offer while the longstanding scrap shortage dents smelting activity.
Rotterdam prices for western grade ferro-titanium were assessed at $6.80-7.30/kg yesterday, up from $6.70-7.20/kg on 10 February. Rotterdam prices for Russian grade alloy rose to $6.50-6.90/kg from $6.40-6.80/kg over the same period.
Market participants see potential for prices to rise further in the coming weeks as more steelmakers return to the ferro-titanium market, trying to bounce back from steel production cuts that have stemmed from the semiconductor shortage and its impact on the automotive industry.
Kenmare Resources plc (LON:KMR) is an established mining company, which operates the Moma Titanium Minerals Mine, located on the north east coast of Mozambique.