Titane : Ti

J'ouvre ce sujet ( ou thread ou fil ) en commençant par un court communiqué des fabricants de métaux US ( AMM ).

D'abord le Ti ( Titane )

Ce type d'indicateur est une réelle ressource sur l'état de la conjoncture aéronautique :

U.S. titanium shipments are finally reflecting most people's view of the market, showing a substantial falloff from last year.

Shipments of mill products fell 18.8 percent to 6,740 tonnes (nearly 14.9 million pounds) in the first quarter of this year from 8,250 tonnes in the same period last year, according to Commerce Department data compiled by the U.S. Geological Survey (USGS).

Despite declining demand and a swelling supply chain during the past 18 months—due in large part to still-troublesome delays on the Boeing 787 Dreamliner—shipments increased on a year-on-year basis, rising every quarter in 2008 and 4.8 percent for the full year compared with 2007.

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La société de droit US RTI Itl metals qui fournit B en Titane annonce des résultats en forte chute. Le 787 est nommé, mais RTI fournit bien d'autres fabriquants

C'était prévisible ! Sur Bizjournal :

[Vous devez être inscrit et connecté pour voir ce lien]’s profit (NYSE:RTI) plummeted 99 percent in the second quarter as more delays and cancellations to commercial and military aerospace programs exacerbated already weak aerospace demand, the company said.

The Moon Township titanium and specialty metals manufacturer reported net income of $125,000, or 1 cent per diluted share, on sales of $104.4 million.

The results include a $2.3 million charge associated with a U.S. Customs agency’s investigation related to the company’s previously filed duty drawback claims.

Analysts’ average estimate for the three months ending June 30 was 2 cents per share, according to Thomson
Reuters. Such estimates typically exclude one-time charges.

RTI shares rose 10 percent to $17.48 in morning trading.

A year ago, the company had net income of $18.6 million, or 81 cents per share, on sales of $159.8 million.

RTI’s fabrication group, reporting a $6.4 million loss of sales of $26.5 million, was hardest hit in the company as delays mounted in the [Vous devez être inscrit et connecté pour voir ce lien] 787 Dreamliner program’s production, the company said.
The Dreamliner’s maiden flight was originally slated for 2007, but manufacturing issues and an eight-week long strike by Boeing’s machinist union have pushed back the schedule multiple times.

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Osaka Titanium, un des plus gros fournisseur de produit fini ( où les éponges de Ti sont-elles achetées ? ), souffre aussi des soucis rencontrés par B


Aug. 10 (Bloomberg) -- Osaka Titanium Technologies Co., the world’s second-largest producer, may miss its second-half profit target partly because of delays in [Vous devez être inscrit et connecté pour voir ce lien]’s new Dreamliner jet, President [Vous devez être inscrit et connecté pour voir ce lien] said.

Pretax profit from operations for the six months starting Oct. 1 may at best equal the first-half estimate of 600 million yen ($6.2 million), Nishizawa said in an interview in Tokyo. The company in April forecast second-half profit of 1.4 billion yen.

The worst global recession since the Great Depression ended five years of annual demand growth of about 16 percent for the metal, used in industrial plants and aircraft for its corrosion resistance, strength and light weight. Purchases of titanium for chemical factories may not recover until late 2010 and sales to Boeing will be postponed
after the company delayed delivery of its 787 Dreamliner for a fifth time, Nishizawa said.

“We didn’t entirely factor in the impact of the Boeing delay,” said Nishizawa, who took office on June 24. Falling prices and volumes may cut Osaka Titanium’s earnings next fiscal year, he said in Tokyo on Aug. 7

Osaka Titanium rose 1.5 percent to 3,340 yen on the Tokyo Stock Exchange, taking this year’s gain to 50 percent compared with a 47 percent increase in the Topix Nonferrous Metals Index. [Vous devez être inscrit et connecté pour voir ce lien] and [Vous devez être inscrit et connecté pour voir ce lien], Japan’s third and fourth-largest steel mills, each have a 23.9 percent stake in the company, based in Amagasaki city, western Japan.

Profit Forecast

The company on July 28 posted pretax profit from operations of 742 million yen in the three months ended June 30 and left unchanged its April forecast for full-year earnings of 2 billion yen. The second-half outlook should be clearer by late September to early October, Nishizawa said. Net income is forecast at 1.14 billion yen for the 12 months ended March 31.

Boeing failed to meet a June 16 pledge at the Paris Air Show that the 787 would fly before the end of that month. The planemaker said last month it wouldn’t provide a new target for the flight or for the first delivery until later this quarter.

Osaka Titanium deepened production cuts by 10 percentage points to more than 50 percent below capacity last month because of excess industry inventories, Nishizawa said. The cuts would be maintained until March, he said.

Delayed Recovery

[Vous devez être inscrit et connecté pour voir ce lien], Japan’s second-largest producer, may miss its full-year profit target on a delayed recovery in demand for the material used in water desalination and liquefied natural gas plants, President[Vous devez être inscrit et connecté pour voir ce lien] said July 23.

Prior to the recession, profits at Osaka Titanium and Toho Titanium advanced to records in the year ended March 31, 2008.

Demand for titanium will likely return to sustained growth after bottoming out in the second half of 2011, Nishizawa said.

Negotiations for 2010 contract prices with buyers are expected to be “very tough” as Chinese and Kazakh rivals offer discounts, he said, without specifying numbers. Talks will start next month on the export prices, which declined for the first time in five years for 2009.

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La société de droit US : RTI, qui est impliquée dans le nouveaux programmes civils de Boeing ( 787, 748 ) sur du Titane procède à une offre de vente d'actions nouvelles. Objectif : + 112 USD mio

A&C, Businesswire

RTI International Metals, Inc. (NYSE: RTI), today announced the pricing of its registered public offering of 6,000,000 shares of its common stock at $19.50 per share. The offering was increased from a previously announced offering size of 5,000,000 shares. The underwriters have a 30-day option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any.

The Company expects that the net proceeds from the offering will be approximately $111.2 million ($127.8
million if the underwriters exercise their over-allotment option in full), after deducting the underwriting discount and prior to estimated offering expenses.
The Company intends to use the net proceeds from this offering, combined with existing cash, to repay or pay the term loan portion of its credit facility, the balance of outstanding indebtedness under its two Canadian credit facilities and related costs and expenses.

The Company expects the issuance and delivery of the shares to occur on September 16, 2009, subject to customary closing conditions.

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Paradoxe ou seulement aléas du 787 ? 250,000lbs par avion sur le Dreamliner !

TMC ne se marre pas vraiment. Le secteur aérospatial représente la moitié de la demande en Ti

Quelques détails sur thestockmaster

Titanium Metals Corporation (Public, NYSE:[Vous devez être inscrit et connecté pour voir ce lien]) is one of few companies who haven't benefited much from this year's bull run.

The reason is because Titanium demand runs in cycles. Notice in the chart on the right, Titanium has literally nosedived in the past 3 years, falling from $30 down to around $8 today.

Of course this has a huge impact on Titanium Metals Corporation's bottom line.

But there is hope that Titanium prices will pick up, and soon.

The commercial aerospace industry accounts for 50% of titanium demand. When Boeing announced plans to delay the launch of its 787 aircraft, the industry was left with a titanium inventory overhang estimated at as high as 50 million lbs, says Frank Haflich in American Metal Market.

But the fall in production will be short-lived. The new Boeing 787 uses 250,000lbs of titanium in every plane, according to Lisa Reisman of Metal Miner.
Boeing has a backlog of 878 orders. In addition, eventually Boeing will have to scale up production due to Asian and Middle Eastern demand. Over the next 20 years, an average of 1,200 new planes a year will be demanded, says Airline Monitor. If even half those planes are made, titanium should soar.

Titanium is also the common link in a host of industries which will show an increased demand over the coming decade. Its corrosion-resistant properties make it ideal for water systems and deepwater oil drills. Think the Obama stimulus plan (infrastructure improvements) here.

There is a lot of speculation going on right now on where Titanium prices will be in the next few years. Some think prices should start rising again as soon as Q2 of 2010. Other sources indicate continued downside pressure and a recovery in 2011.

Keep an eye on Titanium Metals (TIE). The chart is showing a nice channel pattern which should eventually hit $10-$11 in the coming months. TIE has a lot of upside potential, as shares were trading in the $30-$40 range in '06-'07.

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Russian Technologies revend 45% de VSMPO-AVISMA

Gros fournisseur Boeing. La nouvelle JV dans laquelle Ural Boeing aura 50 % +1 part devrait alimenter en Ti les chaines US et pas seulement du 737

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Russia’s State Corp. Russian Technologies (Rostech) has sold 45.42% shares in titanium manufacturer VSMPO-AVISMA to company management. The deal is valued at approximately $970 million.

The Russian manufacturer supplies titanium to Boeing and Airbus.

Boeing and VSMPO-AVISMA Corp. are considering expanding their titanium-production joint venture, Ural Boeing Manufacturing, to support ongoing production increases for the Boeing 737NG.

The new joint venture will control 50% plus one share of VSMPO-AVISMA.

Rostech will keep 25% plus one share, the rest will remain in a free float.

Rostech CEO Sergey Chemezov said the company anticipates a production volume growth of 10%-15% a year through 2015.