News

[SMM Titanium Spot Update: High Costs Drive a Second Titanium Dioxide Price Increase Within the Month, While Diverging Domestic and External Demand Tests the Sustainability of the Hike] In mid-March, titanium dioxide enterprises in China collectively issued a second round of price increase notices within the month, raising domestic prices by 500 yuan/mt and export prices by $100/mt, mainly because elevated sulphuric acid prices forced cost pass-through. At present, enterprises are operating at full capacity, but mediocre domestic demand and foreign trade constrained by geopolitical factors have intensified market divergence. Expectations of tighter sulphuric acid supply still support confidence to hold prices firm, but the sustainability of the price increase remains to be verified by follow-up demand.

[SMM Titanium Weekly Review: Titanium Dioxide Showed Signs of Recovery; Diverging Strength Across the Titanium Industry Chain Market This Week] This week, the titanium industry chain in China showed pronounced structural divergence, with the tug-of-war between sellers and buyers across upstream and downstream segments intensifying and cost pass-through facing obstacles. Overall, the sector was characterized by a combination of weak recovery and localized strong support. Trading in upstream titanium ore and titanium slag was sluggish. Downstream processing enterprises tightly controlled costs, with procurement consistently maintained at a pace driven by rigid demand. Coupled with inventory at high levels across the industry, the raw material end remained under pressure, enterprises’ willingness to operate stayed weak, capacity release was constrained, and the supply-demand imbalance continued to stand out. In the midstream titanium dioxide segment, pressure from elevated costs of raw materials and energy sharply increased production-side strain. Enterprises held prices firm and showed a strong willingness to sell, and while domestic trade demand did not see a noticeable increase in volume—relying only on rigid-demand support—overseas markets still demonstrated a certain degree of resilience, leaving the overall market running relatively strong. The downstream sponge titanium and titanium products segments performed impressively: sponge titanium inventories remained low, and, together with robust downstream restocking demand, top-tier enterprises proactively adjusted prices, with enterprises showing strong confidence in holding prices firm. The titanium products market saw stable supply and demand: the supply-side operating rate was steady, while demand-side differentiation was evident. Civilian applications were mainly driven by rigid-demand restocking, while orders in high-end fields such as aerospace and military industries were steady. The market recovered steadily, and differences in the pace across segments of the industry chain also set the tone for subsequent market dynamics.

[SMM Titanium Spot Flash Report: Titanium Ore Prices Fell Under Pressure From High Inventory, While Sponge Titanium Saw a Strong Increase Supported by Supply and Demand] On March 11, SMM reported that titanium ore prices weakened slightly, with relatively high inventory weighing on the market; supported by restocking demand, enterprises raised sponge titanium quotes and showed a strong willingness to hold prices firm.

As of March 3, domestic titanium dioxide prices edged up, driven by post-holiday price hike announcements from both chloride and sulfate producers. The rally is supported by rising sulfuric acid costs, improving demand, and low inventory levels. However, escalating geopolitical tensions have disrupted shipping routes, affecting key export markets including India and the Middle East. Near-term focus remains on downstream restocking and the evolving geopolitical landscape.

[SMM Titanium Weekly Review: Titanium Market Diverged Post-Holiday, Titanium Dioxide Led Gains While Titanium Products Steadily Recovered] This week, the titanium industry chain showed divergent performance. Titanium concentrate operated steadily, with mines awaiting new March orders. Sentiment for titanium dioxide price hikes remained strong, led by the chloride process; high sulphuric acid costs supported expectations for price increases, though actual implementation still depends on demand follow-through. Titanium slag was in the doldrums, under cost pressure, with prices consolidating at the bottom. Sponge titanium saw weak supply and demand, prices held steady, and future performance relies on downstream restocking to boost recovery. The titanium products market recovered steadily, mainly driven by rigid demand restocking, and is expected to stabilize next week.

Pre-holiday, titanium concentrate prices softened amid weak downstream demand, while titanium dioxide saw inventory draws and price support from exports and pre-holiday restocking. Sponge titanium stabilized with export-led growth. Post-holiday demand will guide price trends across the chain.

In November 2025, China's titanium industry chain exports showed structural divergence. Titanium dioxide exports achieved volume and price growth driven by overseas holiday stocking and market demand, yet cost pressures and limited premium for chloride-process products constrained profit recovery. Titanium metal exports fell sharply due to tightened export policies, intensified overseas competition, and weak civil demand. The overall trade pattern reflects "mid-stream recovery and downstream pressure," with structural challenges remaining prominent.

[SMM Titanium Weekly Review: Structural Divergence in Titanium Industry Chain Persists, Multiple Variables Influence Future Trends] This week, the titanium industry chain exhibited a notable pattern of "weakness upstream, stability midstream, and pressure downstream," with distinct divergences in the operational dynamics across different segments.

[ SMM Titanium Weekly Review: Titanium Market Maintains Overall Weak and Stable Pattern, Cost and Demand Imbalance Intensifies ] This week, the titanium industry chain overall showed a weak consolidation pattern. The upstream titanium concentrate market continued its weak trend, with both domestic and imported ore prices slightly lowered due to downstream pressure for lower prices. Midstream titanium dioxide prices remained stable, but the imbalance between cost and demand became prominent; cost pressure from the sulphuric acid method persisted, while both domestic and external demand remained sluggish, leading to a strong wait-and-see sentiment in the market. Titanium slag supply saw some rebound, but insufficient demand support kept prices under continuous pressure. In contrast, the sponge titanium market remained relatively firm, with low inventory supporting a slight price increase amid stability. Downstream titanium materials, affected by weak demand in the civilian sector, saw limited support only from high-end application areas, with overall prices maintaining low-level consolidation.

[SMM Titanium Spot Report: Titanium Dioxide Market Generally Stable with Slight Rise, Price Increase Expectations Persist Amid Cost Support] SMM December 17 news, China's titanium dioxide market quotations were generally stable today, with the anatase type averaging 12,000 yuan/mt, the rutile type averaging 13,100 yuan/mt, and the chloride process type averaging 15,200 yuan/mt. Following the collective price adjustments by enterprises at the end of November, market prices were generally raised by 200-300 yuan/mt. Sulphuric acid process titanium dioxide was significantly affected by the continuous rise in sulphuric acid prices, leading to a notable increase in production costs. Enterprises' low-priced acid inventory was nearly depleted, and previous orders were completed. Current factory inventory levels are relatively low. On the demand side, domestic demand saw a good release in November driven by exhibitions, while December relied mainly on support from the foreign trade market. Overall, with strong support from the cost side and low inventory, the titanium dioxide market is expected to maintain a generally stable with slight rise trend this month, and price increase expectations persist.

[SMM Titanium Weekly Review: The overall trend of the titanium industry chain was relatively weak this week, with varying performance in prices and demand across different segments] This week, the titanium industry chain exhibited a notable pattern of "weakness in the upstream, stability in the midstream, and pressure in the downstream," with clearly differentiated operational dynamics across various segments.