Titanium scrap prices not flowing down: ATI
Apr 23, 2014 | 05:57 PM
| Frank Haflich
LOS ANGELES Titanium scrap prices have improved recently but the increases have yet to be reflected downstream, according to Allegheny Technologies Inc.s (ATIs) top executive.
While the price of scrap has moved "meaningfully over the last six months for the first time in four years," it has not yet been matched in ingot, chairman, president and chief executive officer Richard Harshman said during the companys earnings conference call April 22.
The benchmark quarterly surcharge compiled by the companys Monroe, N.C.-based ATI Allvac unit, which Harshman noted is "driven by scrap prices," rose 3.1 percent for standard aerospace titanium 6-aluminum/4-vanadium bar and flat products in the second quarter, the first quarter-to-quarter increase in two years (amm.com, April 1). ....
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