Latest Update in the SMM Titanium Market

[SMM Titanium Spot Report: Titanium Dioxide Market Continues Divergence, Cost-Side Pullback Expectations Weigh on Future Gains] SMM January 22 – Today, the average price of anatase titanium dioxide stood at 12,200 yuan/mt, while rutile titanium dioxide averaged 13,300 yuan/mt. This week, the market showed structural divergence: anatase prices remained stable with a weakening trend, pressured by sluggish downstream demand and oversupply, pushing actual transaction prices down to 12,200 yuan/mt or lower. Rutile titanium dioxide saw support from short-term maintenance, pre-holiday restocking, and export deliveries, with its floor price temporarily holding at 12,800 yuan/mt. Overall, end-use demand remains insufficient. Moreover, as sulphuric acid costs come under control and are expected to pull back, titanium dioxide’s upward momentum appears limited, and the market is likely to consolidate in the near term.

[ SMM Titanium Weekly Review: Titanium Industry Chain Remained in the Doldrums This Week, Structural Divergence Seen Across Upstream and Downstream ] This week, the titanium industry chain overall presented a pattern of upstream stabilization and midstream-downstream structural divergence. Upstream titanium concentrate prices edged up slightly in major production areas, but weak downstream demand capped the overall increase; the midstream titanium dioxide market fluctuated at highs, supported by eased cost pressure and pre-holiday stockpiling expectations; titanium slag enterprises generally suffered losses, with operating rates low; sponge titanium prices weakened and adjusted downward, with inventory pressure still present; downstream titanium materials market, underpinned by costs, saw firm demand and slight price increases in high-end sectors (e.g., aviation-grade titanium ingots), while weak civilian demand constrained the rise of general materials, maintaining an overall weak supply-demand balance.

[SMM Titanium Spot Report: Sponge Titanium Prices Weak and Consolidating, Post-Holiday Demand Weakness Suppresses Rebound] SMM January 15 – After the holiday, the sponge titanium market continued to weaken, with actual transaction prices for grade 0 products generally ranging from 44,000-45,000 yuan/mt. Although some enterprises attempted to increase offers to halt the decline, high factory inventories and weak downstream titanium material demand caused the market to quickly return to a weak consolidation pattern. Prices are expected to maintain a fluctuating trend in the short term, with future movements depending on whether end-use demand improves after the Chinese New Year.

In 2025, China's titanium market experienced a complex landscape characterized by supply-demand imbalances, cost transmission pressures, and divergent demand trends. All segments of the industrial chain faced significant challenges: upstream titanium concentrate prices weakened both domestically and internationally; midstream titanium dioxide grappled with dual pressures of losses and sluggish exports; downstream sponge titanium and titanium materials, despite capacity expansion, relied heavily on high-end demand for support. However, civilian and export markets remained persistently subdued, maintaining a structurally consolidating pattern overall.

In November 2025, China's titanium industry chain exports showed structural divergence. Titanium dioxide exports achieved volume and price growth driven by overseas holiday stocking and market demand, yet cost pressures and limited premium for chloride-process products constrained profit recovery. Titanium metal exports fell sharply due to tightened export policies, intensified overseas competition, and weak civil demand. The overall trade pattern reflects "mid-stream recovery and downstream pressure," with structural challenges remaining prominent.

[SMM Titanium Weekly Review: Structural Divergence in Titanium Industry Chain Persists, Multiple Variables Influence Future Trends] This week, the titanium industry chain exhibited a notable pattern of "weakness upstream, stability midstream, and pressure downstream," with distinct divergences in the operational dynamics across different segments.