SMM Analysis Of Sponge Titanium In July And Forecast For August

Published: Aug 12, 2024 15:46

Source: SMM

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According to SMM data, China's sponge titanium production in July 2024 was 23,300 mt, with a MoM decrease of 1.7%.

In July, full-process sponge titanium enterprises maintained stable production, while other semi-process sponge titanium enterprises reduced their operating rates, leading to a slight MoM decrease in sponge titanium production.

The overall demand in the sponge titanium market did not meet expectations, and spot goods were not promptly delivered to end-users. After being smelted into titanium ingots, sponge titanium accumulated in the warehouses of titanium ingot enterprises, resulting in an unexpected increase in titanium ingot market inventory and a continuous decline in titanium ingot prices. The increasing supply of sponge titanium and the negative feedback from the titanium ingot market together put significant pressure on sponge titanium prices. Additionally, the firm quotations for titanium ore and magnesium ingots further exacerbated cost pressures. Under the dual pressures of inventory and costs, sponge titanium enterprises may choose to continue reducing production. According to SMM's forecast, sponge titanium production in August is expected to decrease to 23,000 mt.

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