ATI sees titanium scrap a good buy

Oct 23, 2008 | 01:46 PM | Frank Haflich

This year's slump in titanium scrap prices means that secondary raw materials might be a more competitive buy than sponge, Allegheny Technologies Inc.'s (ATI's) top executive said.

L. Patrick Hassey, president, chairman and chief executive officer of the Pittsburgh-based specialty metals distributor, noted that ATI is currently negotiating 2009 prices with its outside sponge suppliers and expects to have them "locked in" by the end of the fourth quarter.

A nearly 60-percent decline scrap prices this year means that for 2009 it could enjoy an advantage over virgin feedstock, he said.....

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