Titanium Sponge Price Trend and Forecast

Titanium Sponge Regional Price Overview

Get the latest insights on price movement and trend analysis of Titanium Sponge in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Titanium Sponge Price Trend for the Q1 of 2024

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Titanium Sponge Price Trend for the Second Half of 2023

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Asia

The Asian titanium sponge market registered consistent oscillations throughout the second half of the year 2023. The final quarter of the year was more positively inclined than the third quarter. In the Chinese market, a lesser export activity in the third quarter owing to the supply chain curtailments pushed the prices down. A 12% fall was observed in the Chinese domestic market within the three months of the third quarter. However, the international markets witnessed another blow as the Israel and Palestine war commenced. With this, the supply chains shuffled again, and the Chinese market started seeing some purchases.
 

Titanium Sponge Price Chart

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Titanium ingot prices started to rise again in the Chinese market at the beginning of the fourth quarter. It was only in the latter phase of December that the prices started settling down again. Majorly, because the commencement of the New Year holidays restricted the industrial activities. In the Chinese market, the titanium ingot prices went from about 7855 USD/MT in July’23 to around 7228 USD/MT in December’23.

Europe

In the European market, on the other hand, the disturbance in the titanium supply chain created problems for various consumer sectors. The aerospace and aviation industries faced unprecedented challenges due to a shortage of titanium. Titanium sponge is vital in aircraft manufacturing. Ukraine, historically a significant titanium producer, has seen its production disrupted by the conflict with Russia. This disruption has led to a chronic shortage, affecting aerospace supply chains and driving up prices.

Major aerospace manufacturers like Boeing and Airbus sought to reduce reliance on Russian suppliers, but alternative solutions, such as sourcing from China, presented challenges as the Red Sea issues started unraveling after the Israel and Hamas conflict began in October. The shortage has resulted in delays and resource shortages for Maintenance, Repair, and Overhaul (MRO) providers, impacting aircraft maintenance and manufacturing schedules.

North America

Disruptions in the European titanium sponge market were also rippled in the American titanium sponge market as well. Along with the domestic demands the available supplies also handled other global markets. The price trajectory usually vacillated; however, occasional upticks were also observed in the overall price curve. The general market sentiments were mixed throughout the said period.

Analyst Insight

According to Procurement Resource, Titanium prices are expected to rise in the international markets in the coming months. Demands are on the rise and will push the titanium sponge prices along.
 

Titanium Sponge Price Trend for the First Half of 2023

Asia

In Asia Pacific, manufacturing activities took a slump amid weak demand from the downstream paints and coatings sector. In addition to this, the onset of spring festival holidays disrupted the labor availability and logistics in the countries during the first quarter. In the second quarter, the pressure of inflation, high production, and weak demand from the domestic and international sectors kept the price trend of titanium sponge in the negative direction.

Europe

The European countries struggled with a rise in the cost of production of titanium sponges and a rise in inflation in the first quarter of 2023. Further, the weak demand from the downstream sectors, disrupted electricity production, and adoption of tight monetary policies by the European countries, leading to the rise in inflation and interest rates, challenged the growth rates of titanium sponge in the second quarter of 2023.

North America

The construction industries slumped, and so did their rates of procurement of titanium sponges in the first quarter of 2023. The rising interest rates, strict monetary policies, and high cost of input materials proved to be a struggle for the titanium sponge market dynamics. In the second quarter, too, the existing level of stocks was sufficient to cater to the existing demand. The rise in the cost of natural gas, tepid economic conditions, and weak performance of downstream and automotive industries ultimately led to the decline in the price trend of titanium sponge.

Analyst Insight

According to Procurement Resource, the price trend of Titanium sponges is estimated to decline in the upcoming quarters as the construction and automotive industries are not showing any rise in their demand for titanium sponges.

Procurement Resource provides latest prices of Titanium Sponge. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.