High-end demand remains strong, while basic varieties continue to face pressure [SMM Titanium Weekly Review]

Published: Jun 26, 2025 18:15

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[SMM Titanium Weekly Review: Strong Support from High-end Demand, Continuous Pressure on Basic Products] This week, the titanium market showed a clear divergence in trends. Sponge titanium prices continued to rise, with Grade 0 quoted at 53,500 yuan/mt, and trading volume significantly increased driven by large overseas orders. The titanium material market saw robust demand from the military sector, with TA1 titanium ingot priced at 59,000-60,000 yuan/mt. However, the titanium dioxide market remained in a downward trend, with rutile-type titanium dioxide priced at 13,000-14,300 yuan/mt. Despite production cuts by manufacturers, inventory pressure persisted. Titanium concentrate (TiO2≥47%) was priced at 2,000-2,150 yuan/mt, with sluggish demand affected by the off-season. Overall, high-end titanium products performed strongly, supported by military and export demand, while the civilian sector still awaited demand recovery. The market divergence pattern is likely to continue.

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Titanium Concentrate

This week, the prices of domestically produced titanium concentrate (TiO2≥47%) ranged from 2,000 to 2,150 yuan/mt, while titanium concentrate (TiO2≥46%) maintained prices between 1,700 and 1,750 yuan/mt.

Currently, the titanium concentrate market continues to exhibit seasonal weakness, with prices under pressure due to the drag from downstream titanium dioxide market trends. Purchase willingness on the demand side remains low, with a strong wait-and-see sentiment in the market, awaiting signals of a market recovery.

Titanium Dioxide

Rutile titanium dioxide ranges from 13,000 to 14,300 yuan/mt (FOB $1,890-$1,950/mt), anatase titanium dioxide from 12,000 to 12,800 yuan/mt, and chloride-process titanium dioxide from 16,000 to 17,000 yuan/mt.

The titanium dioxide industry has seen an expansion in production cuts, but downward pressure on prices has not yet eased. Mainstream producers' quotes remain in the 13,000 yuan/mt range, reflecting continued weak downstream demand. Export enterprises are actively seeking new orders to alleviate inventory pressure, but signs of an overall market recovery are still not evident.

Sponge Titanium

Grade 0 sponge titanium is priced at 53,500 yuan/mt, with an average price of 50,500 yuan/mt for Grade 1 and 49,500 yuan/mt for Grade 2.

The sponge titanium market has shown remarkable performance, driven by the landing of large overseas orders, leading to a significant increase in trading volume. Under the current tight supply situation, there is a strong bullish sentiment in the market, and it is expected that a new round of price adjustments will occur early next month.

Titanium Products

This week, TA1 titanium ingots range from 59,000 to 60,000 yuan/mt, and TC4 titanium ingots from 67,000 to 69,000 yuan/mt.

The titanium products market continues to exhibit a differentiated trend. Cost support from upstream sponge titanium, combined with an increase in military orders, has driven up prices for high-end products. However, in the civilian sector, affected by weak demand from industries such as chemicals, transaction prices have loosened somewhat.

Weekly Summary

This week, the titanium market continued to show a differentiated pattern, with upstream sponge titanium performing strongly, while titanium dioxide and titanium concentrate remained in a downward trend. In the short term, military demand will continue to support prices for high-end titanium products, but recovery in the civilian sector will still take time. It is recommended to pay attention to the landing of overseas orders and the enforcement of domestic production cuts. SMM will also update the production and sales situation of manufacturers in June after thorough surveys.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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