Rise in titanium inventories puzzles market

Nov 27, 2013 | 05:49 PM | Frank Haflich

Tags  titanium, titanium inventories, titanium sponge, second quarter, U.S. Geological Survey, USGS, Allegheny Technologies, scrap ingot

LOS ANGELES — Raw material inventories in the titanium industry continued to grow in the first half of this year even as mill product shipments showed no improvement from 2012.

"Either everyone is gearing up for a great 2014 or they’re holding a bit too much inventory," an industry executive said.

U.S. titanium sponge industry stocks totaled 22,600 tonnes (about 49.8 million pounds) in the second quarter, up 52.7 percent from 14,800 tonnes at the same point last year, according to the latest data from the U.S. Geological Survey (USGS). Sponge inventories were also up 24.9 percent from the 18,100 tonnes reported at the end of 2012, remaining relatively flat with the end of the first quarter. ....

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