China Titanium Market Update: Key Trade Trends for September [SMM Analysis]

Robust Demand for Titanium Ore Imports: Price Advantages and Downstream Industry Drive
In September, China's imports of titanium ore reached 447,400 tons, an increase of 8.16% compared to the previous month. The cumulative import volume for 2025 has reached 3.76 million tons, with a cumulative year-on-year growth of 4.92%. Overall, the demand for imported ore has been strong this year, primarily due to two factors: First, the price advantage of imported ore has gradually become apparent. For instance, the average import price from Mozambique was $274 per ton, offering better quality and more competitive pricing than domestic alternatives, thereby sustaining robust market demand. Second, the titanium dioxide industry has significantly expanded production, coupled with strong order placements in September, jointly driving the demand for raw materials.

In terms of import sources, Mozambique ranked first with 280,500 tons, indicating that Africa remains the primary region for China's titanium ore imports.

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September Titanium Dioxide Exports Rebound Month-on-Month, Cumulative Decline Persists, New Opportunities in Q4
In September, China's titanium dioxide exports reached 156,300 tons, a month-on-month increase of 12.68%, but the cumulative export volume still decreased by 6.48% year-on-year. Titanium dioxide exports, both domestically and internationally, entered a peak season in September. The growth in overseas exports was driven by two main factors: First, orders resumed and shipments accelerated after the summer holidays, combined with declining sea freight costs, which stimulated demand recovery. Second, the shutdown of some sulfate-process plants overseas (such as Venator) led to tighter supply in Europe, further increasing international reliance on Chinese titanium dioxide.

However, due to anti-dumping policies in certain countries and weak demand in the coating industry, overall downstream orders for the year have remained subdued.

Looking ahead to the fourth quarter, the export landscape is expected to see positive changes. On one hand, if India’s anti-dumping policy against China eases in late September, it could boost exports to India. On the other hand, pre-Christmas stocking demand overseas is likely to concentrate, with a large number of orders potentially released after October. Additionally, the recent acquisition of Venator’s titanium dioxide production plant in Grimsby, UK, by LB Group signifies Chinese companies’ further expansion into the European market, enhancing the global competitiveness of Chinese brands. In the future, titanium dioxide inventory structures may shift more toward overseas markets to capture international demand opportunities.

Growth in Sponge Titanium and Titanium Product Exports, Significant Divergence Between High-End and Civilian Markets
In September, China’s sponge titanium exports reached 679 tons, a month-on-month increase of 26.68%, with cumulative exports growing 19.89% year-on-year. During the same period, titanium product exports reached 6,300 tons, a month-on-month increase of 6.78%. Overall, overseas demand for sponge titanium in September was strong but concentrated mainly in high-end sectors such as aerospace, which also drove a significant increase in inquiries for titanium products. However, in the civilian market, high domestic inventory levels coupled with expanded production capacity have resulted in a clear polarization in the supply-demand structure.

September Import-Export Summary of the Titanium Industry
In September, Chinese titanium industry exhibited a combination of overall growth and internal divergence in imports and exports. On the upstream raw material side, titanium ore imports reached 447,400 tons, a month-on-month increase of 8.16%, with robust demand driven primarily by the price advantage of imported ore and expanded production in the downstream titanium dioxide industry. On the midstream product side, titanium dioxide exports grew 12.68% month-on-month to 156,300 tons, reflecting the peak season effect. However, cumulative exports still declined by 6.48% year-on-year, indicating that while supply gaps overseas created opportunities, anti-dumping measures and weak downstream demand continued to constrain overall demand. During the same period, sponge titanium and titanium product exports grew by 26.68% and 6.78% month-on-month, respectively, but the market showed significant polarization, with strong demand in high-end sectors like aerospace, while the civilian market faced pressure from high inventory and expanded production capacity.