European Ti market set to rally after new Russian export tax

The European ferro-titanium and titanium scrap markets may be set to push higher in the coming months after news that Russia will impose an export tax on ferro-alloys between August 1 and December 31 this year, according to industry sources.

Europe imported around 1,500 tonnes of ferro-titanium per month on average from Russia in the past three years, including Scandinavia and Turkey, with 1,700-1,800 tonnes imported per month in the first four months of 2021, according to industry estimates. Some of those imports into Europe from Russia may be sold on again to countries outside of Europe, trade sources said. Total ferro-titanium exports were around 20,000 tonnes from Russia in 2020.

The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duty’s base rate will be 15%, with a specific rate of $150 per tonne on ferro-alloys such as ferro-titanium. The move is the latest in a series of steps by countries around the world...

Published

Declan Conway

June 29, 2021

15:10 GMT

Galway