Titanium Concentrate
This week, domestic titanium concentrate (TiO2≥46%) was quoted at 1,550-1,600 yuan/mt, with an average price of 1,575 yuan/mt, while TiO2≥47% material was quoted at 1,850-1,950 yuan/mt, with an average price of 1,900 yuan/mt. Titanium concentrate from Mozambique with TiO₂≥46% was quoted at 1,670-1,730 yuan/mt, down 30 yuan WoW; titanium concentrate from Nigeria with TiO₂≥50% was quoted at 1,780-1,830 yuan/mt, down 25 yuan WoW; and titanium concentrate from Australia with TiO₂≥50% was quoted at 1,830-1,880 yuan/mt, down 25 yuan WoW.
This week, the titanium ore market remained in the doldrums, with overall performance staying weak. Recently, pressure from sluggish sales in the imported titanium ore market intensified, port inventory continued to build up, and the market as a whole showed an oversupply pattern. Downstream demand remained weak. Affected by persistently high sulphuric acid costs, titanium dioxide enterprises faced significant cost pressure and continued to push for lower prices in the raw material market. Under this influence, transaction prices in the imported titanium ore market declined continuously, and some traders had already started to offer concessions for shipments or even cut prices for sell-offs.
Titanium Dioxide
This week, anatase titanium dioxide was quoted at 12,600-13,200 yuan/mt, with an average price of 12,900 yuan/mt; rutile titanium dioxide was quoted at 13,500-14,500 yuan/mt, with an average price of 14,000 yuan/mt, and an FOB quote of $2,000/mt.
Driven by persistently high raw material costs and an improving supply-demand pattern, China's titanium dioxide industry saw another wave of collective price adjustments in mid-March. Starting from March 16, multiple mainstream enterprises successively issued their second price adjustment notices of the month, uniformly raising the selling prices of products across all grades, including a 500 yuan/mt increase in base prices for domestic sales and a $100/mt increase in export prices. The core driver of this round of price hikes still lay in the intensifying losses caused by sulphuric acid prices fluctuating at highs over a prolonged period. Enterprises hoped to consolidate the gains from the first round of price hikes at the beginning of the month through this adjustment and further boost market sentiment. Current mainstream quotes for rutile titanium dioxide had concentrated in the range of 14,000-14,500 yuan/mt. However, from the perspective of supply and demand fundamentals, the market showed a diverging trend. Supply side, titanium dioxide enterprises maintained solid operating rates in March, with most running at full capacity. Demand side, the domestic trade market remained mediocre, and apart from leading enterprises, most small and medium-sized producers faced some resistance in promoting the new prices. In the foreign trade market, affected by geopolitical factors, order deliveries and ocean freight rate fluctuations were significant, also showing polarization: enterprises with a relatively high share of export orders were busy rushing shipments, while those with a relatively low share of foreign trade had difficulty sign orders. Looking ahead, whether titanium dioxide price increases can be sustained still depends on substantive improvement in supply and demand. It is worth noting that support from sulphuric acid costs remained strong. According to market sources, a production shutdown for maintenance at a copper enterprise in Yunnan may further tighten sulphuric acid supply and drive prices higher. Against this backdrop, titanium dioxide enterprises still showed a firm willingness to hold prices firm.
Titanium Slag
This week, acid-soluble titanium slag (Sichuan) was quoted at 4,120-4,270 yuan/mt; mainstream quotations for standard 90 titanium slag were 5,200-5,400 yuan/mt.
This week, the titanium slag market generally remained in the doldrums. High raw material costs stayed high, leaving enterprises' operating rate at a relatively low level. Downstream industries mainly purchased as needed, and market demand provided limited support. High-titanium slag prices were under pressure, and the titanium slag market was expected to continue to consolidate at the bottom in the short term.
Titanium Sponge
This week, Grade 0 titanium sponge was quoted at 47,000-48,000 yuan/mt, with an average price of 47,500 yuan/mt; the average FOB price of Grade 0 titanium sponge was $7,100/mt; Grade 1 titanium sponge was quoted at 46,000-47,000 yuan/mt, with an average price of 46,500 yuan/mt; Grade 2 titanium sponge was quoted at 45,000-46,000 yuan/mt, with an average price of 45,500 yuan/mt.
Titanium sponge prices held steady this week. Current market quotations remained firm, mainly supported by strong restocking demand for titanium materials and relatively low overall inventory of titanium sponge, among other factors. Enterprises showed a strong willingness to hold prices firm. However, enforcement of the new foreign trade prices still appeared mediocre, and attention should be paid to acceptance in markets outside China going forward.
Titanium Materials
This week, the price of TA1 titanium ingot was 55-57 yuan/kg, the price of TA2 titanium ingot was 54-55 yuan/kg, and the price of TC4 was 63-64 yuan/kg. This week, hot-rolled titanium plate (3-8mm) was quoted at 64-68 yuan/kg, titanium welded pipe at 115-125 yuan/kg, pure titanium bar at 105-110 yuan/kg, and pure alloy bar at 115-125 yuan/kg.
This week, the titanium metal market saw a critical turning point, as sustained pressure on the cost side combined with the rapid release of high-end demand brought notable changes to the market landscape. On March 10, Yunnan Guotai Metal Co., Ltd. issued a price adjustment notice, raising China prices for titanium sponge by 2,000 yuan/mt and international prices by $300/mt. This move became the most symbolic guiding signal for the market this week. However, the upstream price increase was not immediately transmitted downstream. At present, most processing enterprises for products such as titanium ingots and titanium plates/sheets/strips remained on the sidelines, with prices rising only slightly, and current product quotations still being treated cautiously.
Weekly Summary
This week, the titanium industry chain showed a divergent trend. The titanium ore market remained in the doldrums, with prices for imported ore falling continuously due to downstream efforts to push for lower prices and the accumulation of port inventory; meanwhile, under pressure from persistently high sulphuric acid costs, titanium dioxide saw a second round of collective price adjustments in mid-month. Mainstream enterprises in China raised prices by 500 yuan/mt, while export prices were raised by $100/mt, pushing the center of quotations up to 14,000-14,500 yuan/mt. However, follow-up from domestic demand remained mediocre, and foreign trade orders showed clear divergence. The titanium slag market remained in the doldrums, with prices under pressure amid weakness in both costs and demand. In the sponge titanium market, a leading enterprise took the lead in raising prices, up by 2,000 yuan/mt in China and by $300/mt internationally. Supported by titanium material restocking demand and low inventory, the market showed a strong willingness to hold prices firm, but downstream processing links still adopted a wait-and-see stance, and prices of titanium ingots and titanium plates/sheets/strips rose only slightly. Overall, cost support and structural demand divergence coexisted, and the future price trend still depended on a substantive improvement in supply and demand fundamentals.
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