Prices for European noble alloys were unchanged today due to thin spot trading and low demand, which is typical while entering the seasonally quiet summer period.

Ferro-molybdenum

The Argus assessment for ferro-molybdenum stayed at $51.25-51.80/kg duty paid Rotterdam, as European demand remained unchanged. Spot deals were concluded in Europe at $51.25/kg and $51.40/kg, with smaller tonnage deals closer to $52/kg. "I do not see a lot of immediate appetite right now, so things are relatively quiet, but on the other hand it isn't going down either," a trader told Argus about the stable conditions in Europe.

Ferro-niobium

The ferro-niobium price in Europe remained at $50.50-51.25/kg duty unpaid, but concerns over tight spot availability persist, with several major suppliers heard to be low on or out of stock. Buying activity was higher earlier in the week, driven by buyers looking to secure material ahead of further price increases, although fewer deals were heard today. A spot deal was done at $50.70/kg, with offers up to $51.50/kg. The current assessment marks the highest level since Argus began assessing this market in 2009.

Ferro-titanium

European and UK ferro-titanium prices levelled off at $4.80-5.20/kg Ti dp/df Rotterdam and $4.80-5.20/kg Ti ex-works UK today, after two consecutive decreases on 19 and 24 June. Offers from traders were heard at $5/kg Ti, $5.15/kg Ti and $5.30/kg Ti, but no deals were done, underscoring that some traders are avoiding sell-off levels heard earlier in the week as they try to mitigate losses incurred in the last six months. Producer offers were heard at $4.90/kg Ti, but again no business was booked because of limited spot demand from mills.

Argus assessed 90/6/4 titanium turnings prices unchanged at $2-2.40/kg ddp NWE as scrap intake by ferro-titanium producers was limited, and a hands-off approach from scrap suppliers left the market flat.

Ferro-tungsten

The ferro-tungsten price assessment was unchanged today at $51-51.85/kg duty unpaid, as the general tungsten market stabilised due to resistance from consumers to accept the persistent higher offers. Small quantities were traded at $51.85/kg and above $52/kg. Higher offers were maintained given supply tightness in the general tungsten market caused by depleting high-grade ore resources.

Ferro-vanadium

The European ferro-vanadium price range was unmoved at $24.10-24.50/kg duty paid today because of thin spot trading. Spot deals during the assessment period were concluded at $24.10/kg, with another netting back to $24.25/kg. Most enquiries have been for smaller quantities as consumers are mostly purchasing on an as-needed basis. Meanwhile, Chinese prices fell further today in response to slow demand and reduced bids from steel mills and trading houses.