SMM Analysis On China September Sponge Titanium Production And October Forecast

According to SMM data, China's sponge titanium production in September 2024 saw a slight decline MoM. Affected by market conditions, sponge titanium enterprises faced significant production pressure, with some reducing output, leading to an overall decrease in production. Due to reduced demand in the downstream titanium market, the sponge titanium industry experienced considerable operational pressure, with weak new orders and an increasing trend in inventory. Prices continued to weaken, with a further decline of 2,000-3,000 yuan/mt by the end of September compared to the beginning of the month. Enterprises faced losses, and the market was oversupplied. The short-term outlook for the sponge titanium market remains pessimistic, with more companies expected to reduce production in October, leading to a continued decline in sponge titanium production.