India: Ferro titanium prices edge up w-o-w on firm offers

• Limited spot supply helps keep offers firm
  
  
• Need-based buying limits market activity
  
  

Indian ferro titanium prices inched up by INR 3,000/t ($31/t) w-o-w to INR 374,000/t ($3,921/t) exw-India, supported by firm supplier offers despite limited spot trading. Market sentiment remained largely unchanged from the previous week, with buying activity staying cautious as most steel mills continued to procure material only to meet immediate production needs. Spot transactions remained moderate, while producers largely resisted discounts due to stable raw material costs and comfortable order books.

Market updates

Firm supplier offers lift prices: Domestic ferro titanium prices moved up during the week as suppliers maintained firm offers amid stable production costs and limited availability for spot sales. Although overall market activity remained subdued, producers showed little urgency to lower prices, resulting in a modest upward price correction.

Steel mills continue cautious procurement: Demand from steel mills remained largely unchanged, with buyers continuing need-based procurement amid slow downstream activity. Spot trading volumes stayed limited as mills avoided aggressive stocking and preferred to monitor price trends before making larger purchases.

China market trends: China's ferro titanium market remained unchanged during the week, supported by balanced supply-demand fundamentals. Tight availability of titanium scrap kept production costs relatively stable despite softer titanium ore and aluminium powder prices. Steel mills continued purchasing only for immediate requirements amid squeezed margins. Overall, subdued buying interest was offset by stable cost support, leaving market prices unchanged.

Outlook

Indian ferro titanium prices are likely to remain firm in the coming week, supported by steady supplier offers and stable production costs. However, demand is likely to stay cautious as steel mills continue need-based buying, limiting the scope for sharp price increases unless downstream steel demand improves.