Latest Update in the SMM Titanium Market

[SMM Titanium Weekly Review: Titanium Market Under Pressure Overall This Week, Weak Downstream Demand Constrains Price Recovery] The titanium market remained in the doldrums overall this week, with most varieties under pressure. Prices of titanium concentrate and titanium dioxide continued to decline, primarily constrained by weak downstream demand; titanium slag faced pressure from imported material and cost pressures, making it difficult for prices to move in either direction; although some enterprises attempted to raise sponge titanium prices, transactions remained sluggish, and market sentiment was dominated by a wait-and-see approach; titanium materials, affected by sluggish demand and accumulating social inventory, continued to fluctuate at low levels. Overall, end-use demand showed no signs of improvement, and the titanium product sector as a whole remained in a weak supply-demand balance.

[SMM Titanium Spot Market Update: Sponge Titanium Quotations Rise Amid Strong Downstream Wait-and-See Sentiment, Overall Market Remains Sluggish] On November 10, sponge titanium market prices remained generally stable, with mainstream quotations for Grade 0 at 46,000-48,000 yuan/mt. Downstream purchasing enthusiasm was generally weak. Yunnan Guoti announced a domestic selling price increase of 2,000 yuan/mt and an export quotation increase of $300/mt, making it one of the rare price hike moves in the market. However, downstream acceptance is currently limited, and other mainstream producers have not yet followed suit with price adjustments. Overall market transactions are sluggish, and sentiment remains cautious. In the short term, the sponge titanium market is expected to remain in the doldrums.

In October, the overall titanium market exhibited a pattern of weak supply and demand. Titanium concentrate prices were strong initially but weakened, showing softness in late October; titanium dioxide prices rose then fell, driven mainly by weak domestic demand; sponge titanium faced pressure across all grades, with a noticeable contraction in the civil sector.

[SMM Titanium Weekly Review: Supply-Demand Pattern Dominated the Market, Prices Across the Titanium Industry Chain Diverged Significantly This Week] This week, performance across the domestic titanium industry chain diverged, with price trends showing structural differences. Titanium concentrate prices remained stable, averaging 1,730 yuan/mt for the TiO2≥46% specification and 2,025 yuan/mt for the TiO2≥47% specification, as rigid downstream demand and ample supply formed a weak balance.

[SMM Titanium Monthly Data: October Titanium Market Shows Diverging Trends: Titanium Dioxide Supply and Demand Both Weak, Sponge Titanium Structural Contradictions Highlighted] In October 2025, China's titanium dioxide and sponge titanium markets exhibited different operating characteristics. Titanium dioxide side, production fell 2.40% MoM, with the cumulative YoY decline reaching 8.28%. Domestic October peak season demand fell short of expectations, prices were under pressure, enterprise inventory diverged, external demand was stable but driving down prices, and the market outlook is expected to be pessimistic. Sponge titanium production, however, increased slightly by 2.18% MoM, with cumulative production up 3.03% YoY. High-end demand remained robust but civilian orders contracted, low-price shipments increased in the latter part of the month, the market faced short-term pressure, and long-term challenges remain from capacity expansion and insufficient demand follow-through.

[SMM Titanium Spot Report: Titanium Tetrachloride Market Remains Firm at Low Levels Amid Dual Impact of Costs and Demand] SMM October 28 – Today, the quotation for titanium tetrachloride was 5,000-5,300, with an increase in low-priced sources in the market.

[SMM Adds Grade 0 Sponge Titanium FOB Price] To facilitate downstream enterprises in the sponge titanium industry to better monitor market fluctuations, promptly reflect spot cargo prices, reduce transaction risks and costs in the sponge titanium market, and continuously improve and deepen research on the titanium industry chain, SMM, after a period of observation and market surveys, will begin publishing the Grade 0 sponge titanium FOB price point starting November 4 for market reference.

[SMM Titanium Spot Report: Export Recovery Fails to Mask Weak Domestic Demand, Market Continues Divergence] October 27, sponge titanium prices remained generally stable, with Grade 0 offers at 47,000-48,000 yuan/mt, while downstream procurement remained cautious. September export data showed sponge titanium exports up 26.68% MoM and titanium materials exports up 6.78% MoM, with high-end sector demand providing significant support, but the civilian market remained under pressure due to high inventory. Titanium dioxide market operated in the doldrums, with anatase type offers at 12,000 yuan/mt; September exports rose 12.68% MoM, but cumulative exports still fell 6.48% YoY, with insufficient new orders after the September peak season. Overall, the titanium industry chain sees coexisting export recovery and weak domestic demand, maintaining a structurally divergent market trend.

[SMM Titanium Weekly Review: Divergence in the Titanium Industry Chain This Week, Rising Sentiment for Titanium Concentrate, While Titanium Dioxide Remains Weak] This week, the titanium industry chain in China showed significant divergence across different segments. Titanium concentrate prices continued to rise, supported by the demand boost from the September-October peak season and tight supply, leading to increased market optimism. Titanium dioxide remained weak, with insufficient new orders in October and weakening demand support, although high costs and low inventory kept it in the doldrums. Titanium slag continued to underperform, as enterprises faced dual pressures from high costs and sluggish demand, exacerbating losses. The sponge titanium market was weak, characterized by high inventory and weak demand, with sluggish civilian demand and reduced cost support. The titanium materials market exhibited structural divergence, with high-end segments performing strongly due to demand boosts from sectors like military applications, while the low-end market experienced oversupply, keeping overall prices low and under downward pressure.