According to TDD-global statistics,In October 2024, China's titanium sponge output was approximately 21,200 tons, a month-on-month decrease of 2.19%, and a year-on-year increase of 24.61%;From January to October 2024, the output of sponge titanium was approximately 214,400 tons, a year-on-year increase of 20.95%, and the output increased by approximately 37,100 tons year-on-year.
In October, the titanium sponge market was still weak, with poor demand. Some titanium sponge companies had high inventory pressure and the market was under-started. Some companies continued to reduce their production, and the titanium sponge market output continued to decrease.
In October 2024, China's top three producing regions of sponge titanium in China, Sichuan, Liaoning and Yunnan accounted for 22%, 21%, and 20% of China's total output respectively.
Downstream demand has not improved, and the industry's operation is under pressure. The price of raw material magnesium ingots has been lowered by 500 - 700 yuan/ton in October. The pressure on sponge titanium production has eased slightly. In mid-month, shipments of individual companies have improved, and more markets have gone to warehouses. In addition, the company's production is still at a loss, and sponge titanium companies have a strong desire to increase. However, due to the influence of the demand side, prices have stopped falling and stabilized, while demand is still sluggish. Market supply exceeds demand, sponge titanium production may continue to decline slightly, and prices are weak and stable.
