SMM reported on December 16: Today, the price of Grade 1 sponge titanium moved tentatively upward, with mainstream quotations at 43,000 yuan/mt to 46,000 yuan/mt, up by 1,000 yuan/mt compared to yesterday.
According to sponge titanium enterprises, the operating rate of sponge titanium producers has been gradually reduced due to cost pressure. Sponge titanium manufacturers have continuously decreased the production supply of sponge titanium. The market pattern of strong supply and weak demand for sponge titanium is gradually reversing. However, in the short term, sponge titanium prices will remain in a conflicting situation of upstream inventory at high levels and relatively weak downstream demand. Downstream buyers show low willingness to accept high prices, and transaction follow-ups are limited. It is expected that short-term upward resistance for sponge titanium prices will remain strong.
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