Titanium Market Update (June 2)
I. Titanium Market Overview
Titanium Ore
Today, the Panzhihua-Xichang titanium ore price index was 1626.25, unchanged from yesterday. High prices for medium-grade ore are putting significant cost pressure on beneficiation plants. Miners remain committed to maintaining prices, but weak demand continues to weigh on the market, resulting in a temporary stable and wait-and-see attitude. Regarding imported ore, previous arrivals were ample, leading to a relative oversupply. High-priced ore circulation is hampered, and new orders are weak, suggesting the market may continue to remain weak and stable in the short term.
Titanium Slag
The titanium slag market is experiencing structural differentiation. High raw material costs support many companies in maintaining prices. The market awaits guidance from the next round of bidding in northern China. High-titanium slag is supported by the demand from chloride-process titanium dioxide and sponge titanium, resulting in tight supply and firm prices. Acid slag is hampered by the off-season for sulfuric acid-process titanium dioxide, with downstream restocking only for immediate needs, leading to stagnant transactions.
Titanium Tetrachloride
The market price of titanium tetrachloride is 5800-6000 yuan/ton. Raw material prices such as chlorine and petroleum coke remain high. Increased demand driven by the release of production capacity for chloride-process titanium dioxide and sponge titanium is keeping titanium tetrachloride plants in a tight balance between production and sales, resulting in firm market prices.
Sponge Titanium
The sponge titanium market is generally stable. The mainstream price for grade 0 sponge titanium is 48,000-50,000 yuan/ton. Currently, the mainstream price for grade 1 sponge titanium (for civilian use) is 47,000-49,000 yuan/ton.
Downstream civilian markets are maintaining restocking for immediate needs, with strong buying pressure and pressure to lower prices. The market still faces significant pressure to sell at high prices. High raw material costs are also contributing to the price stability of sponge titanium producers.
Today's titanium dioxide price index is 16729.61, down 19.38 from yesterday. Recently, sulfur port prices have fluctuated upwards. The domestic market is experiencing a supply-demand imbalance, and expectations of tightening spot prices have intensified again. Downstream enterprises continue to face high production costs, and pressure on the raw material side remains unabated. As the titanium dioxide market enters its off-season, weak demand persists.
Furthermore, with previous orders being fulfilled, new orders are selling poorly, leading to inventory accumulation at some factories. A few companies have slightly lowered their new order quotes, but major manufacturers have not yet adjusted their prices, maintaining a wait-and-see approach and holding firm on prices. In the short term, the titanium dioxide market is mostly negotiated on a case-by-case basis.
II. Titanium Price Summary
III. Industry Operating Rates
Titanium Ore
The cost of raw materials, particularly ore, is high, resulting in continued cost inversion for beneficiation plants. Titanium ore operating rates are low.
Titanium Dioxide
Affected by raw material costs and supply, some companies have reduced production, but overall market operating rates remain high.
Sponge Titanium
Sponge titanium companies are operating at high rates.
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