Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices reach $6.10 per kg in the near term, as some suppliers expect.
But one of two traders reckon the upward trajectory in the current rally may be limited given a seemingly cautious recovery in steel production that was slashed due to the impact of measures to tackle the spread of the Covid-19 pandemic.
Steady demand for prompt material from steel mills for the first quarter of next year pushed the ferro-titanium spot price to $5 per kg on the high end for the first time since May 20 in a 14-week bull run on Wednesday November 25. The ferro-titanium 70% Ti, max 4.5% Al, ddp Europe spot price reached $4.75-5 per kg on Wednesday,...
