Insufficient civilian demand supports price decline of titanium metals collectively [SMM Spot Titanium Cargo Report]

SMM reported on July 28 that today, the quoted price for Grade 0 titanium sponge is 50,000-53,000 yuan/mt, for Grade 1 titanium sponge is 48,000-49,000 yuan/mt, and for Grade 2 titanium sponge is 47,000-48,000 yuan/mt.

Today, the titanium metal market is showing a collective downward trend. Due to the shrinking procurement demand for titanium materials from traditional industries such as chemicals and construction, titanium material processing producers are struggling with a lack of orders. The market cake continues to shrink, leading to an increasingly fierce "rat race" competition within the industry, and putting mounting pressure on enterprises' survival. The supply of titanium sponge in the market has surged significantly, while the growth rate of downstream titanium material demand has been slow, resulting in another oversupply phenomenon in the market. Affected by this, titanium sponge prices have already shown signs of decline. Considering that leading titanium sponge enterprises have expressed their willingness to cut production, it is expected that there will still be support at the bottom of the titanium sponge market under the expectation of reduced titanium sponge supply, and the downside room for titanium sponge prices is relatively limited.