Titanium Market Price Analysis – Week 3 of June

I. Market Overview

1. Titanium Ore

(1) Domestic Titanium Ore:

In the Panxi region, prices for small and medium titanium ore producers fell slightly this week. As of now, the price for 46.10 grade ore from smaller manufacturers is around 2,160–2,180 RMB/ton. This is mainly due to continued weak demand from downstream markets, putting pressure on new orders. Most enterprises remain cautious, market sales are poor, and buyers are pushing for lower prices, resulting in an increase in low-priced supply. The price of 38-grade titanium middling (excluding tax) is quoted at 1,550–1,600 RMB/ton, while 47.20 grade ore is priced at 2,300–2,350 RMB/ton. The current market sees limited production and a weak supply-demand balance. Although production costs remain high, causing pressure for small and medium producers, the ongoing downstream downturn suggests titanium ore prices may continue to trend slightly weaker.

(2) Imported Titanium Ore:

The import market also shows weakness as sluggish downstream demand hampers activity. Mozambique titanium ore is currently priced at around $370/ton CIF, and Kenyan 47–49 grade ore is at $360/ton (tax included, ex-works). New transactions have been rare, with some deals stalled entirely. Inventory among traders is increasing. Some overseas price quotes have also been adjusted downward, and the market remains in a stalemate. Companies are generally pessimistic about the future, and a slowdown in titanium ore imports is expected.

2. High Titanium Slag

Due to weak demand, sales of high titanium slag are under pressure. Market competition is fierce, production remains low, and few new orders are being placed. Although high costs provide some price support, overall, prices are stable but weak under the current market conditions.

3. Titanium Tetrachloride

Prices for titanium tetrachloride are temporarily stable, ranging from 5,900–6,500 RMB/ton. Companies are facing high cost pressures, which offer some price support. However, weak downstream demand prevents supply and demand from reaching equilibrium, and the market is expected to remain stable in the short term.

4. Titanium Dioxide

This week, the titanium dioxide market remained weak and stable. As of now, the tax-included ex-works price for rutile-type TiO₂ is 13,000–14,300 RMB/ton, and for anatase-type TiO₂ it is 13,300–13,600 RMB/ton. The market is in a traditional off-season, with downstream buyers making cautious purchases. Although some factories have begun limiting production and inventory pressure has eased slightly for certain enterprises, overall stock levels remain high. Titanium ore prices are holding firm, and sulfuric acid prices continue to rise, increasing production costs. Some prices are already near loss-making levels, leaving little room for further declines. At the same time, weak domestic and international demand, stagnant new orders, and sales pressure are keeping the market subdued. Many market participants remain pessimistic about the outlook, and some pricing is now negotiated on a case-by-case basis.

5. Titanium Sponge

Currently, the price for grade 1 titanium sponge is 50,000–51,000 RMB/ton, and for grade 0 it is 51,000–52,000 RMB/ton. The titanium sponge market remains in a tight supply-demand balance, and production is stable. However, downstream demand is mixed, inventories remain tight, and high raw material costs continue to support stable prices.

II. Outlook

• Titanium Ore: Due to poor demand, prices are expected to trend weaker. The sluggish downstream market is unlikely to improve in the short term, and with more low-priced supply entering the market, prices may face downward pressure.

• Titanium Dioxide: Weak demand suggests a continued stable-to-weak trend. With the market in an off-season and both domestic and international demand underwhelming, high inventories and cost pressures will likely prevent significant price drops or increases.

• Titanium Sponge: The tight supply situation is expected to persist, keeping prices firm. A balanced supply-demand structure, stable production, and tight inventories will continue to support price stability in the short term.