India: Ferro titanium prices soften after holding steady for weeks

• India produces 12,000 t of ferro titanium annually
  
  
• Market sentiment remains stable despite price drop
  
  

BigMint has expanded its coverage to include a weekly price assessment for India's ferro titanium. Ferro titanium (70%, 10-50 mm) is predominantly produced in India through the induction furnace method, where titanium scrap is melted along with steel and iron, using fluxes to eliminate impurities. The alloy is mainly sourced from titanium-bearing ores such as ilmenite (FeTiO3) and rutile (TiO2), with ilmenite being the preferred raw material due to its abundance and cost-effectiveness.

Indian ferro titanium (Ti: 70%, 10-50 mm) prices edged down by INR 6,000/t ($70/t) w-o-w to INR 341,500/t ($3,972/t) exw-India, as per BigMints assessment on 22 May. Around 20 t were traded within the price range of INR 338,000-340,000/t ($3,931-3,954/t) exw.

Prices witnessed a slight downtrend after remaining stable for the past couple of weeks, primarily driven by trading activity at lower levels. The overall market remained relatively stable, with minor fluctuations and no significant shift in sentiment observed.

Applications of ferro titanium

Ferro titanium is known for its low density, high strength, and excellent corrosion resistance. It is extensively used in the manufacture of special and stainless steels, as well as flux-cored wire. In steelmaking, it plays a crucial role in enhancing quality by facilitating deoxidation, desulfurization, and denitrogenation processes.

Indias market size

Indias installed production capacity for ferro titanium is estimated at 12,000-13,000 t per annum, with actual production levels nearing 12,000 t. Imports are recorded at approximately 1,500 t, while exports amount to around 2,000 t. Domestic demand is estimated to be close to 12,000 t annually, reflecting well-balanced supply and demand dynamics in the market.

Outlook

In the near term, the ferro titanium market is expected to remain stable, with minimal price fluctuations, supported by consistent demand and balanced supply conditions.