The titanium market overall was under pressure this week, with weak downstream demand constraining price recovery [SMM Titanium Weekly Review].

Titanium Concentrate

This week, mainstream quotations for domestic titanium concentrate (TiO2≥46%) were 1,650-1,680 yuan/mt, with an average price of 1,665 yuan/mt; quotations for the TiO2≥47% specification were 1,900-2,100 yuan/mt, averaging 2,000 yuan/mt.

The titanium concentrate market continued to fall this week, with prices showing a clear downward trend. Due to persistently weak downstream demand, market competition has intensified, and overall prices remain under downward pressure. The weak pattern is unlikely to improve in the short term.

Titanium Dioxide

This week, domestic titanium dioxide 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 12,300-13,300 yuan/mt, averaging 12,800 yuan/mt; chloride process titanium dioxide domestic quotations were 14,000-16,000 yuan/mt, averaging 15,000 yuan/mt.

Titanium dioxide market quotations showed a weak trend this week, primarily due to stable production coupled with weak downstream demand. Since the beginning of the month, producer quotations have generally softened, with some enterprises successively lowering prices or adopting a wait-and-see approach. Market transactions largely rely on previously signed orders for support. Overall, titanium dioxide prices are expected to remain weak this month.

Titanium Slag

This week, acid-soluble titanium slag (Sichuan) quotations were 5,820-5,845 yuan/mt; mainstream quotations for standard 90-grade titanium slag were 5,200-5,400 yuan/mt.

Recently, the high-titanium slag market has been consolidating near the bottom. Impacted by imported titanium-rich materials, titanium slag prices are under pressure. Furthermore, current weak downstream demand makes it difficult to support a bottoming out of titanium slag prices. However, considering significant losses suffered by high-titanium slag enterprises, cost support exists at the price bottom. For acid slag, the approaching dry season is expected to increase electricity costs, thereby raising production pressure. Overall, with both supply and demand sides under pressure, titanium slag prices face difficulty moving significantly in either direction.

Sponge Titanium

This week, Grade 0 sponge titanium quotations were 46,500-48,500 yuan/mt, averaging 47,500 yuan/mt; the FOB average price for Grade 0 sponge titanium was $6,650/mt; Grade 1 sponge titanium quotations were 45,500-47,500 yuan/mt, averaging 46,500 yuan/mt; Grade 2 sponge titanium quotations were 44,500-46,500 yuan/mt, averaging 45,500 yuan/mt.

This Monday, some sponge titanium enterprises issued price adjustment notices, announcing a 2,000 yuan/mt increase for domestic selling prices and a $300/mt increase for international selling prices. Currently, most other mainstream producers are adopting a wait-and-see attitude and have not yet followed suit with price adjustments. However, overall market quotations have gradually firmed. Downstream buyers generally remain cautious, and actual transactions are still relatively limited. As the effect of the price adjustments gradually transmits through the market, prices are widely expected to stop falling and stabilize. The key to future price trends still depends on the substantive recovery of downstream demand by the end of November.

Titanium Products

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) prices were 60-61 yuan/kg, titanium welded tube prices were 115-125 yuan/kg, pure titanium bar prices were 95-105 yuan/kg, and pure alloy bar prices were 120-130 yuan/kg.

The titanium metal market was under pressure this week. Although upstream raw material prices edged up slightly, titanium metal market quotations remained unadjusted. Due to sluggish downstream procurement, the supply-demand imbalance was difficult to alleviate in the short term. Overall market prices operated at low levels, enterprise quotations loosened slightly, social inventory accumulated modestly, and prices still faced downward pressure.

Weekly Summary

The titanium market overall remained in the doldrums this week, with most products under pressure. Titanium concentrate and titanium dioxide prices continued to decline, with weak downstream demand being the primary constraint. Titanium slag prices faced difficulty moving either way, impacted by imported material competition and cost pressure. For sponge titanium, although some enterprises attempted to raise prices, transactions remained sluggish, and market wait-and-see sentiment was strong. Titanium products prices continued to fluctuate at lows, affected by sluggish demand and accumulating social inventory. Overall, end-use demand showed no signs of improvement, and the titanium product sector overall remained in a pattern of weak supply and demand.