According to SMM data, China's sponge titanium production in October 2024 saw a slight decline MoM. The anticipated September-October peak season did not materialize. In October, influenced by the downstream market, sponge titanium enterprises faced significant inventory pressure, leading many companies to reduce production, resulting in an overall decrease in sponge titanium production.
In early November, the supply-demand imbalance in the sponge titanium market persisted, and the downstream titanium material market demand remained sluggish. The sponge titanium industry faced considerable operational pressure, with new orders being weak and manufacturers' inventories showing an increasing trend. Despite a price adjustment notice issued by a sponge titanium enterprise in Xinjiang at the beginning of the month, the downstream acceptance of the new prices was low. SMM expects that sponge titanium enterprises will continue to reduce production in November, and domestic production is likely to keep decreasing.
