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US titanium scrap loses further ground in auction

July 22, 2011 - 16:27 GMT Location: Los Angeles

KEYWORDS: titanium scrap , Boeing , Keywell , Mega Metals , Goldman Titanium

A key titanium scrap auction price has continued to drift downward despite a bullish longer-term outlook for the metal’s aerospace markets.

The runner up was Keywell LLC, Chicago, at $5.67 per pound. It was followed by Goldman Titanium Inc., Buffalo, N.Y., these sources said.

The latest Boeing auction marks a drop from about $6.02 per pound previously. As recently as this past May, Mega submitted a winning bid of $6.43 per pound for Boeing’s bulk 6/4 scrap.

In light of growing backlogs of commercial aircraft, some players said they might have expected more of an impact on raw materials. For example, AMR Corp., the parent company of American Airlines, this week split a huge $40-billion order for...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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