^{Reposted and translated from the original article on official WeChat account "Titanium Home" (《钛之家》).}

Panorama of Titanium Market in October: Sponge Titanium Price Decline and Titanium Material Industry's Difficult Bottom - Seeking Amid Weak Supply and Demand

I. Overall Market Overview

In October, the titanium industry exhibited three key characteristics: "oversupply, differentiated demand, and weak prices".

Supply Side: The production capacity of upstream products such as sponge titanium and titanium alloy ingots maintained high - level operation. The output was basically the same as the previous month or increased slightly. Inventory pressure intensified, and enterprises made small - scale downward adjustments to their quotations.

Demand Side: Military orders remained the main driving force. However, the civilian demand (in aviation, automobile, and medical sectors) saw a decline in transaction volume due to the seasonal off - season and the slowdown of the macro - economy.

Price Trend: The quotation for Grade 1 sponge titanium ranged from 45,000 to 47,000 yuan/ton, and that for Grade 0 sponge titanium was between 46,000 and 48,000 yuan/ton, showing a weak overall performance. Although the price of titanium ore remained firm, there was an expectation of a decline.

II. Data and Changes of Segmented Products

Product	Weekly Quotation Range (CNY/t)	Month - on - Month Change	Main Driving Factors
Domestic Titanium Ore	Approximately 12,000 - 13,000 (including tax)	Basically Flat	High costs; imported titanium ore remains firm due to cost factors
Grade 1 Sponge Titanium	45,000 - 47,000	-0.3% ~ -0.5%	High production capacity, rising inventory, and weak civilian product demand
Grade 0 Sponge Titanium	46,000 - 48,000	-0.2% ~ -0.4%	Same as above
Pure Titanium Ingot	Approximately 54,000 - 56,000	Slightly decreased by 0.5%	Supported by military demand; civilian demand declined
TC4 Titanium Ingot	Approximately 58,000 - 60,000	Flat	Slightly increased production capacity; inventory pressure still exists
Titanium Plate and Strip	Approximately 72,000 - 75,000	-0.4%	Seasonal decline in demand from aviation and shipbuilding sectors
Pure Titanium Bar and Wire (1)	Approximately 95,000 - 120,000	-0.3%	Declining demand
Pure Titanium Bar and Wire (2)	Approximately 120,000 - 140,000	Flat	Slowing demand; stable orders
Titanium Tube (Source: Titanium Home)	Approximately 115,000 - 123,000	+0.2%	Stable demand; increased demand from the petrochemical sector

1. Sponge Titanium

Supply: The national weekly output of sponge titanium was approximately 5,700 tons (estimated based on the total output of 22,900 tons in September), remaining the same as the previous month.

Demand: Military orders were still the only growth point. The sluggish demand for civilian products led to an increase in inventory.

Price: It fluctuated in the range of 45,000 - 48,000 CNY/t, showing a weak overall trend, and some enterprises had already made small - scale price concessions.

2. Titanium Ore

Cost: The high cost of raw materials kept the price firm. The domestic titanium ore price stayed between 12,000 and 13,000 CNY/t. Affected by the exchange rate and freight costs, the price of imported titanium ore did not show a significant decline in the short term. Industry analysts suggested that "the price may tend to weaken in the later period".

3. Titanium Alloy Ingots & Ingot Blanks

Support from Military Sector: Military orders accounted for about 30%. Driven by the seasonal increase in national defense procurement, the demand remained relatively stable.

Impact on Civilian Products: The demand for lightweight applications in aviation and automobiles decreased due to the slowdown of the macro - economy, resulting in a small - scale price correction. However, the demand from the petrochemical sector remained stable with a slight increase, becoming the "ballast stone" for the demand in the titanium industry.

4. Titanium Plates and Strips, Bars and Wires, Tubes

Differentiated Demand: The demand for aviation plates decreased seasonally, and the demand for ship plates was less affected by the recovery of shipping capacity. There was still demand for titanium bars and wires in the lightweight projects of new energy vehicles, but the overall order volume decreased.

Price: All prices were in the range of 65,000 - 75,000 CNY/t, with a slight month - on - month decrease of 0.2 - 0.4%.

5. Titanium Powder

Application: 3D printing and powder metallurgy remained the main growth points, but there was no significant increase in orders this month.

Price: Due to sufficient supply, the price decreased by 0.6%.

III. Summary of Major Titanium News This Week (October 1st - 31st)

Date	Event	Impact Assessment
October 3rd	Inventory warning from domestic sponge titanium enterprises: A number of large - scale sponge titanium enterprises reported that the inventory turnover days rose to 35 days.	Supply pressure increased, and the short - term price downward risk rose.
October 9th	Military procurement announcement: The Ministry of National Defense released a new round of titanium alloy material procurement plan, with an estimated cumulative demand of 12,000 tons from 2025 to 2026.	It will support titanium alloy ingots and ingot blanks and increase the proportion of military demand.
October 15th	Titanium ore price remained stable: The domestic titanium ore price stayed in the range of 12,000 - 13,000 yuan/ton without significant fluctuations.	It maintained the stability of upstream costs and was beneficial to the profit margin of downstream enterprises.
October 20th	The industry association released the "Titanium Industry Supply and Demand Report", pointing out that "supply is at a high level, demand is weak, and the industry has entered a period of structural adjustment".	Market sentiment turned cautious, and enterprises may further lower prices.
October 24th	Bulk transaction of titanium plates and strips in East China: A batch of aviation plate orders were transacted at 72,000 yuan/ton, which was lower than the 75,000 yuan/ton of the previous month.	Prices fell slightly, indicating that demand was still shrinking.
October 28th	Cost of imported titanium ore increased: Affected by the fluctuation of the US dollar exchange rate, the cost of imported titanium ore increased by 0.8%.	It may lead to upward pressure on the domestic titanium ore price in the later period.
October 31st	Industry outlook meeting: A number of enterprises stated that they would strengthen inventory digestion, and some enterprises planned to reduce prices in advance in November.	It is expected that the price will continue to operate weakly in November.

IV. Market Forecast for Next Week (November 1st - 7th)

◇ Price Trend

Sponge Titanium: It is expected to remain weak, and the quotation range may drop to 44,000 - 46,000 yuan/ton. Inventory pressure still exists, and enterprises may make further price concessions to avoid overstocking.

Titanium Ore: Affected by the increase in imported costs in the short term, the price may increase slightly by 0.5% - 1%, but it will remain firm overall.

Titanium Alloy Ingots/Ingot Blanks: Military demand is still the support point. If military orders are implemented as planned, the price will remain in the range of 68,000 - 70,000 yuan/ton. If the civilian demand continues to be sluggish, a decrease of 0.3% - 0.5% may occur.

◇ Demand Side

Military Sector: Driven by the national defense procurement plan, the demand will remain relatively stable or even increase slightly.

Civilian Sector: The lightweight projects in aviation and automobiles have entered the off - season, and the demand will still show a downward trend.

Emerging Applications: The demand for 3D printing and powder metallurgy is difficult to provide significant support in the short term.

Industry Sentiment

Baoji Titanium Industry Research Institute has warned of structural adjustment. Enterprises generally adopt the strategy of "price reduction for promotion + inventory digestion", and the market sentiment is cautious. It is expected that several enterprises will issue price reduction announcements at the beginning of November, and the overall price will operate weakly.

V. Comprehensive Conclusion

Imbalance between Supply and Demand Remains the Main Cause: The high production capacity and high inventory of sponge titanium, along with the weak civilian demand, have led to the continuous weakening of prices.

Military Sector Is the Only Bright Spot: The military procurement plan provides relatively stable demand support for titanium alloy ingots and ingot blanks, which can offset part of the downward pressure in the short term.

Prices Will Remain Weak in the Short Term: Under the combined influence of inventory pressure, differentiated demand, and price reductions by some enterprises, the overall price showed weakness in October and is expected to continue to decline in November.

Medium - and Long - term Structural Adjustment: The industry needs to resolve the situation of overcapacity by increasing product added value and exploring emerging applications (such as high - end alloys for aerospace and powder metallurgy).

The prices of the domestic titanium material market this week are as follows:

 

Category	Product Name	Specification	Price Range
Sponge Titanium	Grade 0	Domestic	46,000 - 48,000 CNY/t
	Grade 1	Domestic	45,000 - 47,000 CNY/t
	Grade 2	Domestic	44,000 - 45,000 CNY/t
Titanium Ingot	Pure Titanium Ingot	TA1	55,000 - 57,000 CNY/t
		TA2	53,000 - 54,000 CNY/t
	Titanium Alloy Ingot	TC4	58,000 - 59,000 CNY/t
Titanium Material	Titanium Slab	Pure Titanium	57,000 - 58,000 CNY/t
	Titanium Slab	EB Cast Slab	58,000 - 59,000 CNY/t
	Titanium Hot Rolled Coil	Pure Titanium Black Coil	58,000 - 61,000 CNY/t
	Titanium Cold Rolled Coil	Pure Titanium	63,000 - 65,000 CNY/t
	Hot Rolled Plate	1.5mm Pure Titanium	61,000 - 62,000 CNY/t
	Hot Rolled Plate	1.2mm Pure Titanium	61,000 - 62,000 CNY/t
	Cold Rolled Plate	Pure Titanium Standard Intermediate Size	65,000 - 68,000 CNY/t
	Cold Rolled Plate	TA10 (TiMoNi)	125,000 - 135,000 CNY/t
	Cold Rolled Plate	TC4 Standard Intermediate Size	180,000 - 200,000 CNY/t
	Seamless Titanium Tube	Titanium Tube Blank	70 - 72 CNY/kg
	Seamless Titanium Tube	Φ20~30mm	92 - 98 CNY/kg
	Titanium Welded Tube	Φ20~30mm	90 - 95 CNY/kg
	Titanium Bar	Pure Titanium Bright Bar (Φ20~40mm)	110 - 120 CNY/kg
	Titanium Bar	TC4 Bright Bar (Φ20~40mm)	150 - 180 CNY/kg
	Titanium Wire	Pure Titanium Wire (Φ2~5mm)	160 - 220 CNY/kg
	Titanium Wire	TC4 Wire (Φ2~5mm)	180 - 240 CNY/kg

 

Note: The above prices are collected and compiled by [Titanium Home], and do not represent the final transaction prices between enterprises. They are only for industry reference. [Titanium Home] shall not bear relevant responsibilities for any disputes arising therefrom.