Titanium Concentrate
This week, mainstream quotations for domestic titanium concentrate (TiO2≥46%) were 1,680-1,760 yuan/mt, averaging 1,720 yuan/mt; quotations for the TiO2≥47% specification were 1,950-2,100 yuan/mt, averaging 2,025 yuan/mt, with prices flat WoW.
Titanium ore prices continued their upward trend this week. On one hand, driven by the traditional September-October peak season, production demand from downstream industries such as titanium dioxide remained stable with an increase, leading to strong purchase willingness for titanium concentrate raw material. On the other hand, the domestic titanium ore supply side remains relatively tight, with production constraints in some major producing regions, further supporting the price trend. Under the dual influence of supply and demand factors, market bullish sentiment warmed up, and overall titanium concentrate prices remained firm.
Titanium Dioxide
This week, domestic titanium dioxide market prices were as follows: anatase titanium dioxide quotations were 11,800-12,200 yuan/mt, averaging 12,000 yuan/mt; rutile titanium dioxide quotations were 12,900-13,700 yuan/mt, averaging 13,300 yuan/mt; domestic quotations for chloride process titanium dioxide were 14,700-15,700 yuan/mt, averaging 15,200 yuan/mt.
The titanium dioxide market remained in the doldrums this week, with transactions primarily focused on executing orders signed in September; new orders in October were noticeably insufficient. Following the second round of price increases, current transactions are mostly small, scattered orders, and overall market inquiry activity has declined, reflecting a weakening of demand support in October after the end of the September peak season. Furthermore, prices of raw materials such as sulphuric acid continue to fluctuate at highs, and cost support remains significant. Coupled with relatively low inventory pressure in October, the titanium dioxide market is expected to maintain a temporarily weak and stable pattern.
Titanium Slag
This week, acid-soluble titanium slag (Sichuan) quotations were 5,820-5,845 yuan/mt; mainstream quotations for standard 90 titanium slag were 5,200-5,400 yuan/mt.
The weak pattern in the high titanium slag market persisted recently. At the beginning of the month, the tender price from northern enterprises had already fallen to 5,440 yuan/mt, and the downward trend continued, down 200 yuan MoM. The market is currently facing a dual squeeze from high costs and weak demand. The price decline has intensified losses for domestic titanium slag enterprises, while upstream raw and auxiliary material costs remain high, significantly increasing pressure on the production side. Downstream demand remains persistently weak, failing to provide effective support. Under the fundamental weakness in both supply and demand, producers are generally facing operational difficulties, and the overall high titanium slag market continues to show a weak operating trend.
Sponge Titanium
This week, Grade 0 sponge titanium quotations were 48,000-49,000 yuan/mt, averaging 48,500 yuan/mt; Grade 1 sponge titanium was 47,000-48,000 yuan/mt, averaging 47,500 yuan/mt; Grade 2 sponge titanium was 46,000-47,000 yuan/mt, averaging 46,500 yuan/mt, with prices maintaining stable operation.
This week, the sponge titanium market continued to show a weak trend, with prices generally under pressure. On one hand, demand for ordinary titanium materials downstream remained sluggish, making it difficult to effectively boost sponge titanium prices; on the other hand, most producers maintained high inventory levels and faced significant sales pressure, further exacerbating bearish sentiment in the market. Although there is still some rigid demand in the high-end titanium materials sector, it is insufficient to fully offset the weakness in the civilian market. Coupled with weakened cost support due to falling raw material prices, the current sponge titanium market overall presents a weak balance characterized by "high inventory and weak demand."
Titanium Materials
This week, TA1 titanium ingot prices were 54-55 yuan/kg, TA2 titanium ingot prices were 53-54 yuan/kg, and TC4 prices were 61-63 yuan/kg. Hot-rolled titanium plate (3-8mm) was quoted at 60-61 yuan/kg, titanium welded tubes at 115-125 yuan/kg, pure titanium bars at 95-105 yuan/kg, and pure alloy bars at 120-130 yuan/kg.
This week, the domestic titanium metal market showed significant structural divergence, with notable differentiation between high-end and low-end sectors. The high-end titanium processing materials market performed strongly, driven by robust demand from sectors such as military and deep-sea equipment, leading to significant growth in orders. The low-end market, however, remained under pressure, with the oversupply situation worsening. Downstream civilian product purchase willingness was weak, and with industry production and operating rates remaining high, the supply-demand imbalance is unlikely to improve in the short term. Overall, current titanium market prices are operating at low levels, with enterprise quotes showing slight loosening, social inventory accumulating slightly, and market prices still facing downward pressure.
Weekly Summary
This week, conditions varied significantly across different segments of the domestic titanium industry chain. Titanium concentrate prices continued to rise, supported by demand from the September-October peak season and tight supply, boosting market bullish sentiment. Titanium dioxide remained weak, with insufficient new orders in October and weakened demand support, although high costs and low inventory underpinned its stability in the doldrums. Titanium slag continued to be weak, with enterprises squeezed by high costs and sluggish demand, leading to increased losses. The sponge titanium market was weak, characterized by a "high inventory, weak demand" pattern, with sluggish civilian demand and weakened cost support. The titanium materials market showed structural divergence, with the high-end sector performing strongly due to demand from military and other sectors, while the low-end market faced oversupply; overall prices remained low and still faced downward pressure.
Titanium concentrate: Demand from the "September-October peak season" continues, tight supply is difficult to alleviate, prices are expected to remain firm, and the upward trend may extend into next month. Titanium dioxide: Insufficient demand support is unlikely to change in the short term, costs and low inventory provide a floor but new orders are weak; it is expected to remain stable in the doldrums with limited price fluctuations. Titanium Slag: The dual pressures of cost and demand remain unabated, the supply-demand weakness pattern is difficult to improve, the market weakness will persist, and enterprise operating pressures may increase. Sponge Titanium: The pattern of "high inventory and weak demand" is hard to break, with sluggish civilian demand coupled with weakening cost support, prices continue to be under pressure, maintaining a weak balance. Titanium Materials: Structural divergence continues, high-end products tend to stabilize supported by rigid demand, while the oversupply contradiction in low-end products is hard to resolve, overall prices remain low, and downward pressure persists.
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