Export Recovery Fails to Mask Weak Domestic Demand, Market Continues Divergence Pattern [SMM Titanium Spot Cargo Express]

SMM October 27 news: Sponge titanium prices were concentrated at 47,000-48,000 yuan/mt for grade 0, 46,000-47,000 yuan/mt for grade 1, and 45,000-46,000 yuan/mt for grade 2, with overall weak purchasing enthusiasm from downstream. Sponge titanium exports in September rose 26.68% MoM, up 19.89% YoY cumulatively; titanium material exports reached 6,300 mt, up 6.78% MoM. The export growth was mainly boosted by demand from high-end sectors such as aerospace, with a significant increase in inquiry activity for related titanium materials. However, affected by high domestic inventory and continuous capacity expansion, the civil market showed a polarized supply-demand structure.
In the titanium dioxide market, the average price of anatase titanium dioxide was 12,000 yuan/mt, rutile type 13,300 yuan/mt, and chloride process 15,200 yuan/mt. Market transactions were mainly focused on executing previous orders, with a noticeable lack of new orders in October, reflecting weakened demand support after the September peak season. Against the backdrop of high raw material prices such as sulphuric acid and limited inventory pressure, the titanium dioxide market is expected to continue in the doldrums. Titanium dioxide exports in September were 156,300 mt, up 12.68% MoM, but cumulative exports still fell 6.48% YoY.